City Union Bank has scheduled its Annual General Meeting for August 14, 2026, to approve a dividend of ₹2 per share for the financial year ended March 31, 2026. The meeting will be held through video conferencing and other audio-visual means. The record date to determine eligibility for the dividend is Friday, July 31, 2026.

The board has recommended the re-appointment of M/s. P. B. Vijayaraghavan & Co. and M/s. M. Srinivasan & Associates as Joint Statutory Central Auditors for the third and final term for FY 2026-27. The auditors will receive an overall remuneration of ₹124 lakhs, plus out-of-pocket expenses. This appointment is subject to the approval of the Reserve Bank of India.

Shareholders will consider a special resolution to increase the bank's authorized share capital by creating an additional 100 crore equity shares of ₹1 each. This increase will augment the capital base for future expansion and growth. The bank has also sought approval to alter the capital clause of its Memorandum of Association and Articles of Association.

In a special business agenda, the board seeks authorization to offer, issue, and allot shares by way of Qualified Institutional Placement (QIP) to raise an amount not exceeding ₹500 crore. The issue is proposed to be completed within 365 days from the date of the resolution. The board will have the discretion to determine the price, proportion, and timing of the issue.

The remote e-voting period will commence on August 10, 2026, and close on August 13, 2026. The cut-off date for e-voting is August 7, 2026.

Union Bank has outlined key strategic targets across credit deployment, sectoral growth, and deposit management. The bank anticipates total lending of INR 14,000 to INR 15,000 crores under the Emergency Credit Line Guarantee Scheme (ECLGS), with INR 10,000 crores already disbursed to eligible borrowers.

ECLGS Disbursement Progress

The bank's progress under the ECLGS reflects a significant portion of its anticipated total outlay already deployed. The following table summarises the key figures related to the scheme:

The disbursement of INR 10,000 crores represents a substantial share of the projected range, indicating active utilisation of the scheme by borrowers supported by the bank.

RAM Sector Growth Targets

Union Bank's management has set an ambitious growth target of 18% to 20% in the RAM — Retail, Agriculture, and MSME — sectors. This focus on the RAM segments underscores the bank's intent to broaden its lending base across priority and retail categories, which are widely regarded as key drivers of diversified credit growth for public sector banks.

Bulk Deposit Ratio Reduction

On the liabilities side, the bank aims to lower its bulk deposit ratio to 15%. Reducing reliance on bulk deposits is generally associated with efforts to improve the stability and cost-efficiency of a bank's funding profile. The management's target signals a deliberate move toward a more granular and retail-oriented deposit base.

Key Strategic Highlights

The following points summarise Union Bank's stated management targets:

• ECLGS lending: Anticipated total of INR 14,000 to INR 15,000 crores, with INR 10,000 crores already disbursed
• RAM sector growth target: 18% to 20%
• Bulk deposit ratio target: Reduction to 15%

These targets collectively reflect the bank's focus on expanding credit in priority sectors, sustaining momentum under government-backed lending schemes, and optimising its deposit composition.