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| BoB to raise Rs 15 bn from bonds | |||
| 14 Aug 2009
: Bank of Baroda (BoB) has plans to raise about Rs 15 billion in the next seven months from bonds to meet capital requirement, reports Business Line. The bank is planning to raise Rs 15 billion from Tier I and II bonds in the remaining part of the fiscal. This will help in maintaining capital adequacy ratio of over 12.5%. The bank expects credit growth of 25% in the fiscal. The bank has headroom to raise about Rs 120 billion from bonds. Overseas operations of the bank continued to remain the mainstay and contributed 23.5% to the bank`s total business and operating profits. The international business accounted for 43% of the bank`s net profit during the quarter. The bank said the overall profitability was supported by 24.4% growth in the total income at Rs 47,351.5 million. Shares of the company declined Rs 8.75, or 1.99%, to settle at Rs 431.85. The total volume of shares traded was 65,417.00 at the BSE (Friday). |
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