The Reserve Bank of India has approved the appointment of R Vijay Anandh as the next Managing Director & CEO of City Union Bank. According to reports from The Hindu BusinessLine, ETBFSI, and Economic Times, RBI conveyed its approval through a letter dated February 9, 2026, for a 3-year term effective May 1, 2026. The appointment is subject to approval from the bank's shareholders, as stated in the exchange filing by City Union Bank.
As reported by The Hindu BusinessLine, RBI's approval letter mentions the remuneration package for the new MD & CEO. The compensation structure includes a fixed pay of ₹2.50 crore per annum including perquisites. This represents a significant compensation package for the leadership role at the private sector bank.
According to the latest announcement from City Union Bank, R Vijay Anandh brings over 28 years of experience in banking, risk management, portfolio analysis, credit appraisals, and retail banking segments. He currently serves as the Executive Director at City Union Bank and was first appointed as Executive President in 2023 before being designated as ED in 2024. In his new role as MD & CEO, Anandh will be responsible for steering City Union Bank's strategic growth agenda, strengthening its retail and risk management frameworks, and enhancing operational excellence across business segments. His mandate includes deepening customer-centric banking solutions, expanding market presence, and aligning the bank's priorities with evolving industry dynamics.
As reported by The Hindu BusinessLine, ETBFSI, and Economic Times, N Kamakodi has been serving as MD & CEO of City Union Bank since May 2011, and his term ends on April 30, 2026. The current leadership transition represents a significant change in the bank's top management structure, with Vijay Anandh set to replace Kamakodi after his tenure concludes. Anandh will assume office subject to the shareholders' approval, as confirmed in the latest exchange filing. His expertise in retail banking and risk management is expected to drive the bank's strategic growth initiatives and support sustained value creation in the competitive financial services landscape. Additionally, Shri V N Shivashankar and Dr T S Sridhar, Independent Directors have demitted their office at the close of business hours on February 06, 2026 on account of completion of 8 years tenure.
City Union Bank reported a healthy Q3FY26 performance with PAT rising 16% YoY to ₹332 crore, supported by strong business momentum and margin expansion. As per the latest financial results, advances grew 21% YoY to ₹60,892 crore, driven by sustained traction in core MSME and gold loans, while deposits increased 21% YoY to support the growth. The bank maintained a stable CD ratio at 85.86% during the quarter. Management has upwardly revised its growth guidance from low-mid teens to mid-high teens, supported by sustained traction in MSME, gold loans and secured retail segments. The bank's ROA remained healthy at ~1.5%, reflecting improving operating leverage and disciplined cost control.
