Bank of Baroda on Wednesday said its capital raising committee will meet on November 18 to discuss and approve the issuance of debt instruments to raise tier-I and tier-II capital.
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“The meeting of capital raising committee of our bank is scheduled…to discuss and finalize the issuance of Tier I and Tier II debt capital instruments and long-term bonds for the financing of infrastructure and affordable housing within the board-approved capital raising plan,” the bank said in an exchange filing.
According to news reports, the public sector lender is looking at raising about Rs 10,000 crore through infrastructure bonds.
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As of September-end, the bank’s capital adequacy ratio as per Basel-III requirements was 15.30%, compared to 15.25% a year ago. The CET 1 ratio stood at 11.57%, compared to 10.95% a year ago. The additional tier-I ratio as of September end was 1.62%, compared to 1.86% a year ago.
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For the quarter ended September, the bank reported an over 28% year-on-year growth in net profit to Rs 4,253 crore. The net interest income grew by 6.5% on year to Rs 10,831 crore.
On Wednesday, shares of Bank of Baroda ended 0.5% higher on the National Stock Exchange at Rs 197.70.
