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BoB plans to raise Rs 2,000 crore via bonds

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New Delhi: State-owned Financial institution of Baroda (BoB) on Tuesday stated it’s going to mop up Rs 2,000 crore by issuing bonds to fund its progress plans.

“…Capital Elevating Committee of our financial institution has as we speak accepted issuance of Basel III Compliant Further Tier I Bonds for mixture whole concern dimension not exceeding Rs 2,000 crore in single or a number of tranches,” BoB stated in a regulatory submitting.

Final week, BoB reported a standalone internet revenue of Rs 506.59 crore for the fourth quarter ended March, as in opposition to Rs 991.37 crore within the January-March quarter of the previous fiscal.

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