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City Union Bank conducted a conference call on 26 July 2024 to discuss the financial results for the quarter ended June 2024. Dr N Kamakodi, MD & CEO of the bank addressed the call:
Highlights:
The bank has strong strength in the MSME lending, while the bank is expanding in the secured retail, micro-LAP and housing loan products.
The bank expects to launch new products by September 2024. The bank has also started unsecured retail lending on pilot basis, while it is not aggressive in building unsecured retail segment.
The bank expects the current loan growth to sustain and it has scope to accelerate loan growth ahead with technology and new products in place to show pick-up in growth in H2FY2025.
On asset quality front, the bank expects the recoveries and upgrades to be higher than fresh slippages of loans in FY2025.
The bank had appointed BCG to build digital lending processes and for API integration. It completed the ...
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