City union bank announced the completion of Dr. N. Kamakodi's tenure as Managing Director and CEO on April 30, 2026. The leadership transition occurred at the close of business hours, marking the end of his 15-year tenure with the bank.

Leadership Transition Details

The cessation follows regulatory compliance requirements under the Reserve Bank of India (Commercial Banks – Governance) Directions, 2025, which limits the tenure of bank CEOs to 15 years. Dr. N. Kamakodi, holding Director Identification Number 02039618, demitted his office in accordance with these provisions.

Regulatory Compliance

The bank has fulfilled its disclosure obligations under Regulation 30 of SEBI (Listing Obligations and Disclosures Requirements) Regulations 2015. The notification was submitted to both the National Stock Exchange of India Limited and BSE Limited, ensuring transparency in the leadership change.

The disclosure follows SEBI Master Circular No: HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, which outlines the requirements for such announcements. Company Secretary and Compliance Officer Venkataramanan S signed the official communication to the stock exchanges.

Bank Information

City Union Bank Limited, incorporated in 1904, operates with its registered office at 149, T.S.R. (Big) Street, Kumbakonam, Tamil Nadu. The bank maintains its corporate identity number L65110TN1904PLC001287 and continues its operations under established governance frameworks.

City Union Bank has issued a postal ballot notice seeking shareholder approval for the issuance of bonus shares at a ratio of 1:3 and the appointment of an Independent Director. The bank's Board recommended the bonus share issue at its meeting held on April 27, 2026, subject to shareholder approval through remote e-voting.

Bonus Share Details

The proposed bonus share structure will provide shareholders with additional equity based on their existing holdings. Under the 1:3 ratio, investors will receive one bonus share for every three shares currently held in their portfolio. The bonus shares will be issued by capitalizing approximately Rs. 24,76,96,810 from the Securities Premium Account, as per the audited accounts for the financial year ended March 31, 2026.

The present authorized share capital of the Bank is Rs.100 crores out of which share capital of Rs.74,30,90,428 is paid up. As on March 31, 2026, the Securities Premium Account stood at Rs. 9,40,36,87,214.33 crores. The bonus shares will be allotted in dematerialised form only and shall rank pari-passu in all respects with the fully-paid up equity shares of the Bank as existing on the record date.

Independent Director Appointment

The postal ballot also seeks approval for the appointment of Shri R Mohan (DIN 06902614) as an Independent Director on the Board. He was co-opted as an Additional Director on April 27, 2026, and his appointment is proposed for the period from April 27, 2026 up to May 15, 2030. Shri Mohan brings extensive banking experience, having served the bank from 1975 in various capacities including General Manager-Credit and Chief General Manager. He holds 75,000 Equity Shares (0.010094%) as on April 27, 2026.

E-Voting Schedule and Process

Members of the Bank holding shares as on the cut-off date of April 24, 2026, are eligible to cast their vote through remote e-voting. The voting period commences on April 30, 2026 at 9:00 a.m. IST and concludes on May 29, 2026 at 5:00 p.m. IST. M/s. KUVS & Associates, Practicing Company Secretaries, Tiruchirappalli, will act as Scrutinizers for this process.

The results of the postal ballot shall be announced on or before June 2, 2026. Resolutions passed with requisite majority shall be deemed to have been passed on the last date of e-voting, May 29, 2026, at a general meeting. The e-voting facility is provided through National Securities Depository Limited (NSDL).