Baroda state-owned bank said on Friday it had raised Rs 1,997 crore by issuing Basel III-compliant bonds. The bank had issued an additional Rs 2,000 crore Level I bond issue on November 24. annum), ”BoB said in a regulatory filing.
The bank said it has issued a total of 1,997 bonds of Rs 1 crore each as part of the issue to a total of 21 grantees. To comply with Basel III capital regulations, banks need to improve and strengthen their capital planning processes.
These standards are implemented to alleviate concerns about potential constraints on asset quality and the consequent impact on bank performance and profitability. The stock traded down 3.33% to Rs 89.90 per coin on BSE.
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