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Our Bureau

Bangalore, July 18

Vijaya Bank is raising Rs 250 crore through a 10-year bond issue. These bonds, rated AA plus, are priced at 9.25 per cent and would comprise part of the banks Tier-II capital. The funds are being raised to augment the capital of the bank. Vijaya Bank now has a capital to risk weighted asset ratio of 11.94 per cent with over 9 per cent of it comprising equity and reserves. The capital is being raised to meet the credit growth. Credit offtake has shown an increase of over 30 per cent during the current season despite the interest rate spikes. Bulk of the growth, however, was from the farm sector.

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