Bank of Baroda board to meet on November 18 to consider infra bond issue
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.
“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.
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.
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.
