GTFP CUB (IFC-51797)

Regions
  • South Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • India
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
C
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Feb 23, 2026
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
CITY UNION BANK LIMITED
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 20.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Feb 4, 2026

Disclosed by Bank Jan 22, 2026

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

The proposed investment consists of a Trade Finance facility under IFC’s GTFP (Global Trade Finance Program) for US$20 million for up-to a tenor of 12 months to City Union Bank(CUB). The program will be utilized for guaranteeing trade-related payment obligations of CUB.     

This Project will support short-term trade finance activities. The Environmental and Social (E&S) risks and impacts associated with these activities are considered low and the project has therefore been classified as a category FI-3 project in accordance with IFC’s Sustainability Policy. The trade finance activities supported by the Project will not include any activities on the IFC’s Exclusion List, trade in coal for power generation purposes, and trade in non-RSPO certified palm oil/non-rainforest alliance certified.                                                                           

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

The proposed investment consists of a Trade Finance facility under IFC’s GTFP (Global Trade Finance Program) for US$20 million for up-to a tenor of 12 months to City Union Bank(CUB). The program will be utilized for guaranteeing trade-related payment obligations of CUB.

Private Actor Relationship
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

100% of the Bank’s shares are traded in public. As of March 2025, 38.90% of the Bank’s shares were held by individual investors, 28.03% by foreign portfolio investors, and 33.07% by local FIs (including insurance companies and mutual funds). There are three institutional shareholders holding more than 5% of the Bank, namely HDFC Asset Management Company (8.75%), SBI Mutual Fund (8.13), and Capital Group USA (5.89%).

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Established in 1904, CUB is the oldest private sector bank in India and one of the few private sector banks with a niche focus on serving MSMEs and the retail segment. The Bank has a customer base of over 15,000 MSMEs and a network of 875 branches nationwide, of which over 75% are located in semi-urban, urban, and rural area.                       


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

CUB
KANNAN
Senior Manager
NA
Kannnan_k@cityunionbank.com
NA
www.cityunionbank.in

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

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How it works