CRISIL has reaffirmed 'A1+' rating on the certificates of deposit programme of City Union Bank (CUB).

The rating continues to reflect CUB's adequate capitalization, above-average earnings, and comfortable asset quality.

These rating strengths are partially offset by the bank's average resource profile, and small scale of operations with geographic concentration.

Shares of the company declined Rs 0.65, or 1.31%, to trade at Rs 49.10. The total volume of shares traded was 7,512 at the BSE (11.33 a.m., Friday).