City Union Bank Limited has announced a senior management transition with the retirement of its Chief Risk Officer due to superannuation. The bank communicated this change to stock exchanges under Regulation 30 of SEBI listing requirements, ensuring transparency in corporate governance.

Management Transition Details

The bank's current Chief Risk Officer, Kalyanaraman M, demitted his office on March 31, 2026, marking the end of his tenure due to superannuation. This transition was part of a planned succession, as the bank had previously announced the appointment of his successor.

Regulatory Compliance

The announcement was made pursuant to Regulation 30 read with Schedule III Part A, Para A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The bank referenced its earlier communication dated March 23, 2026, regarding the appointment of Venkatakrishnan S as the new Chief Risk Officer.

Succession Planning

City Union Bank had proactively announced the appointment of Venkatakrishnan S as Chief Risk Officer for a period of two years effective April 1, 2026. This seamless transition ensures continuity in the bank's risk management function without any operational disruption.

The bank's communication to both NSE and BSE demonstrates its commitment to maintaining transparency with stakeholders and adhering to regulatory disclosure requirements for senior management changes.

City Union Bank Limited has announced that CARE Ratings Limited has reaffirmed its issuer rating while upgrading the outlook, reflecting an improved assessment of the bank's credit profile. The rating agency communicated this decision to the bank on March 30, 2026.

Rating Details and Action

The Rating Committee of CARE Ratings Limited reviewed and took the following action on the bank's credit rating:

The reaffirmation of the CARE AA- rating indicates that CARE Ratings continues to view City Union Bank as having strong credit quality. The upgrade of the outlook from Stable to Positive suggests that the rating agency expects favorable developments in the bank's credit profile over the medium term.

Regulatory Compliance and Disclosure

The bank disclosed this rating action to both the National Stock Exchange of India Limited and BSE Limited on March 31, 2026, in compliance with Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations 2015. This regulation mandates timely disclosure of material events and information that could impact investor decisions.

The communication was signed by Venkataramanan S, Company Secretary & Compliance Officer, ensuring proper authorization and compliance with regulatory requirements. The bank's registered office is located at 149, T.S.R. (Big) Street, Kumbakonam, Tamil Nadu.

Credit Rating Significance

Credit ratings serve as important indicators of a financial institution's creditworthiness and risk profile. The CARE AA- rating places City Union Bank in the category of instruments with strong degree of safety regarding timely servicing of financial obligations. The positive outlook revision indicates potential for rating upgrade if the bank continues to demonstrate improved performance and strengthened financial metrics.