City Union Bank Announces Record Date for 1:3 Bonus Issue, Posts 24.9% Profit Surge

City Union Bank has announced a record date for its 1:3 bonus issue, a move that is expected to benefit its shareholders. The bank has also reported a significant surge in its profit for the fourth quarter of the previous fiscal year. According to the bank's financial results, it has posted a 24.9% increase in profit, which stands at Rs 360 crore. This impressive growth is a testament to the bank's strong performance and its ability to navigate the challenges of the banking sector.

The 1:3 bonus issue means that the bank will issue one bonus share for every three shares held by its shareholders. This move is aimed at rewarding the bank's shareholders and increasing the liquidity of its shares. The record date for the bonus issue has been set, and shareholders who hold the bank's shares on or before this date will be eligible to receive the bonus shares.