Private sector lender City Union Bank Ltd. (CUB) is planning to raise a further capital of ₹600 crore, including premium, through the qualified institutional placement route.

An enabling resolution will be placed before the shareholders at the annual general meeting to be held on August 14, 2020.

Last year, the shareholders had passed a resolution, enabling the bank to raise up to ₹500 crore but it was not utilised, CUB said. The bank is also planning to raise ₹500 crore through the issue of bonds on a private placement basis, it said.

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