City Union Bank has officially opened its new branch in Gondal, Rajkot District, Gujarat on March 05, 2026. The bank informed stock exchanges about this expansion through a regulatory filing under SEBI Listing Regulation 30, bringing its total branch count to 918 locations across the country.

Branch Details and Location

The new Gondal branch is strategically located at Plot No.6, Near Gundala Chokdi, Gundala Road, Gondal-360311, Rajkot District, Gujarat. This marks the bank's continued expansion in the western region of India.

Regulatory Compliance

The bank has duly informed both the National Stock Exchange of India Limited and BSE Limited about the branch opening as per regulatory requirements. The communication was signed by Venkataramanan S, Company Secretary and Compliance Officer of City Union Bank Limited.

Strategic Network Expansion

This branch opening represents City Union Bank's ongoing commitment to geographical expansion and improving customer accessibility across India. The strategic location in Rajkot District positions the bank to better serve customers in this important commercial region of Gujarat.

With 918 branches now operational, City Union Bank continues to strengthen its distribution network, focusing on reaching customers in both urban and semi-urban areas to enhance service delivery capabilities across diverse market segments.

City Union Bank Limited has announced a comprehensive postal ballot notice dated February 27, 2026, seeking shareholder approval for significant corporate governance matters through remote e-voting. The voting process will commence on March 05, 2026 at 9:00 a.m. IST and conclude on April 03, 2026 at 5:00 p.m. IST.

Key Resolutions for Shareholder Approval

The postal ballot encompasses four critical resolutions that will shape the bank's leadership structure and compensation framework:

Leadership Transition and New Appointments

Independent Director Appointment

Shri K. Subramanian, a 61-year-old seasoned IT executive with 37+ years of industry experience, has been proposed for appointment as Independent Director. He holds a B.Sc. (Mathematics) degree and is a Chartered Accountant with All India Rank. Previously serving as Global Head-Delivery Excellence, Governance, Privacy and Business Excellence at TCS, he brings expertise in Information Technology & Cyber Security, Artificial Intelligence, Banking & Insurance, Risk Management, and Business Management. The Board co-opted him as Additional Director on February 2, 2026, and his appointment requires approval for the term ending June 30, 2030.

Managing Director & CEO Succession

Shri R. Vijay Anandh, currently serving as Executive Director, has been recommended for appointment as Managing Director & CEO with effect from May 1, 2026. The 51-year-old retail banking veteran brings 28 years of experience across banks and NBFCs, with strong focus on retail credit underwriting, risk management, and business development. RBI has accorded approval for his appointment vide letter dated February 9, 2026, for a three-year term.

Remuneration Structure and Revisions

New MD & CEO Compensation Package

Shri R. Vijay Anandh's proposed remuneration structure as MD & CEO includes:

Current Leadership Remuneration Revisions

RBI has approved remuneration revisions for existing leadership:

Dr. N. Kamakodi (MD & CEO):

• Revised from ₹ 236.50 lakh to ₹ 261.00 lakh per annum
• Effective from May 1, 2025
• RBI approval dated December 17, 2025

Shri R. Vijay Anandh (Executive Director):

• Revised from ₹ 206.57 lakh to ₹ 228.00 lakh per annum
• Effective from June 24, 2025
• RBI approval dated December 17, 2025

Voting Process and Timeline

Shareholders holding shares as on the cut-off date of February 20, 2026 are eligible to participate in the remote e-voting process. The bank has implemented a comprehensive digital voting system through NSDL, ensuring accessibility for both demat and physical shareholders.

The resolutions, if passed with requisite majority, shall be deemed to have been passed on April 3, 2026 at a general meeting. The bank has appointed M/s. KUVS & Associates as scrutinizers to ensure fair and transparent voting process, with results to be communicated to stock exchanges and hosted on the bank's website as per statutory requirements.