Business Daily from THE HINDU group of publications
Tuesday, Jul 03, 2007
ePaper
Business Daily from THE HINDU group of publications Tuesday, Jul 03, 2007 ePaper |
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Money & Banking
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Private Banks Centurion Bank raising capital
Mumbai, July 2 Centurion Bank of Punjab plans to raise Tier-I capital of about Rs 500 crore through qualified institutional placement of equity shares. This approval is subject to shareholder, regulatory and statutory approvals as applicable, said a statement from the bank. The capital adequacy ratio for the bank stands at 11.1 per cent, with Tier-I capital of about 9.9 per cent and Tier-II capital of about 1.2 per cent. The proposed exercise would enable the bank to sustain its growth a nd build on the business volumes and profitability over the ensuing quarters, said the statement. “This resolution is an enabling resolution for raising capital in the future, and the bank does not necessarily have to raise this capital immediately,” it said. Centurion Bank said it will finalise the specific timing for raising such capital from time to time and would do so when required. — Our Bureau
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