February 19, 2018 / 5:38 AM / 3 months ago

BUZZ-India's City Union Bank falls; CEO says bank hit by cyber hack

** City Union Bank’s shares fall as much as 5.3 pct to 164 rupees

** CEO said on Sunday “cyber criminals” hacked its systems and transferred nearly $2 mln via unauthorised remittances to lenders overseas through SWIFT financial platform

** City Union on Saturday had said it discovered three “fraudulent remittances”, which were sent via correspondent banks to accounts in Dubai, Turkey and China

** Disclosure comes after Punjab National Bank last week reported being hit by a $1.77 bln fraud, raising concerns about impact on banking sector

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