Financial Daily from THE HINDU group of publications
Wednesday, Oct 05, 2005
Financial Daily from THE HINDU group of publications Wednesday, Oct 05, 2005 |
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Money & Banking
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Private Banks South Indian Bank plans to raise capital Our Bureau
Kochi Oct. 4 , THE South Indian Bank has decided to raise its capital base and has constituted a sub-committee of the Board to ascertain the amount of capital to be raised and the manner in which it is to be undertaken. The Chairman of the Bank, Dr V.A. Joseph, said after the board meeting, the sub-committee will explore whether to go in for a public issue, GDR, private placement, or for a combination of these three. Though the bank has a capital adequacy of 10.5 per cent against the RBI stipulated 9 per cent, Dr Joseph said it planned to take it up to 12 per cent or more to fund the future growth plans. The bank planned to raise the capital before the end of the current fiscal.
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