Financial Daily from THE HINDU group of publications
Tuesday, Sep 27, 2005
Financial Daily from THE HINDU group of publications Tuesday, Sep 27, 2005 |
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Money & Banking
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Public Sector Banks SBT to raise Rs 235 cr as Tier II capital Our Bureau
Thiruvananthapuram , Sept. 26 STATE Bank of Travancore (SBT) is planning to raise Rs 235 crore to augment its Tier II capital. The bank has informed the Bombay Stock Exchange that the Executive Committee of the board of directors has approved the issue of bonds to raise the amount through private placement. When contacted, an SBT official said that the authorised capital of the bank was Rs 50 crore, which was already subscribed. The only option now for the bank to strengthen its capital base was through the Tier II route. He said that as on June 30, the bank's capital adequacy ratio was 10.32 per cent, well above the benchmark level of nine per cent. However, all the banks were trying to raise the CAR to 11 per cent and above and SBT was also joining the league keeping in view the projected increase in business in the months ahead.
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