News

India's City Union Bank to add up to 160 new ATMs

May 24, 2013

An official from the private sector FI City Union Bank said that the institution plans to add around 80 branches and add an additional two ATMs for each branch opened. City Union Bank is headquartered in the Indian state of Tamil Nadu.

"We plan to open 75 to 80 branches this year. Currently, we have 375 branches and 790 ATMs — we will continue to maintain the branch-ATM ratio of 1:2," N. Kamakodi, managing director of City Union Bank, told the Business Standard.

That calculus would have the Chennai-based bank adding 150 to 160 ATMs. Kamakodi also announced the banks financial results for the 2012–2013 fiscal year. Year-over-year, the bank's total income was up 22 percent.

Read more about installation and deployment.