City Union Bank moves up on inking bancassurance agreement with Tata AIA Life Insurance, Shriram General Insurance
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ity Union Bank is currently trading at Rs. 145.90, up by 1.00 points or 0.69% from its previous closing of Rs. 144.90 on the BSE.
The scrip opened at Rs. 143.00 and has touched a high and low of Rs. 147.00 and Rs. 143.00 respectively. So far 54089 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 183.65 on 26-Oct-2021 and a 52 week low of Rs. 108.60 on 07-Mar-2022.
Last one week high and low of the scrip stood at Rs. 147.00 and Rs. 133.90 respectively. The current market cap of the company is Rs. 10687.00 crore.
The Institutions and Non-Institutions holding in the company stood at 59.34% and 40.66% respectively.
City Union Bank has entered into bancassurance agreement with Tata AIA Life Insurance and Shriram General Insurance. Under this agreement, Shriram General Insurance will offer general insurance products, while Tata AIA Life Insurance will offer life insurance products through the branch network of the bank.
Bancassurance is an arrangement between a bank and an insurance company allowing the insurance company to sell its products to the bank's client base.
City Union Bank offers a suite of products across deposits, loans, investment solutions, payments and cards.
