City Union Bank Achieves Rs 10,000 Crore Net Worth Milestone
In a significant development for the banking sector, Chennai-based City Union Bank has announced that its net worth has crossed the Rs 10,000 crore mark. This achievement comes as the bank's managing director and chief executive officer, N Kamakodi, prepares to conclude his remarkable 15-year tenure at the institution.
Leadership Transition and RBI Approval Process
N Kamakodi, who has led the bank for 60 consecutive quarters, confirmed that his tenure will officially end on April 30. "My 15-year journey with City Union Bank will be completed on April 30," Kamakodi stated during the bank's third-quarter earnings call. "This marks my 59th quarter, with just one more quarter remaining."
The bank has already initiated the succession process, with the board submitting a list of potential candidates to the Reserve Bank of India for approval. Kamakodi emphasized that "the board has sent the list of candidates to RBI, and once we receive approval, we will communicate the status. Everything is progressing as planned."
Steady Growth and Business Momentum
Under Kamakodi's leadership, City Union Bank has demonstrated consistent growth and financial strength. The bank has maintained strong business momentum throughout FY25 and the first three quarters of FY26, according to executive director R Vijay Anandh.
"We expect to end FY26 with high-teen growth, which will be above industry levels," Anandh revealed. "Our focus remains on core MSME lending, gold loans, and secured retail segments."
The bank has delivered double-digit growth across all four quarters of FY25 and continued this trend into FY26. This sustained performance has contributed significantly to the bank reaching the Rs 10,000 crore net worth milestone.
Legacy of Leadership and Future Outlook
Kamakodi's 15-year tenure has been marked by strategic expansion and balance sheet strengthening. His leadership has guided the bank through various economic cycles while maintaining stability and growth.
As the banking industry watches this transition, City Union Bank appears well-positioned for continued success. The combination of strong financial metrics, consistent growth patterns, and a planned leadership transition suggests the institution will maintain its upward trajectory in the coming quarters.
