The Hindu Business Line : SBM plans Rs 150-cr tier-II capital issue

KEEPING in view the increasing credit offtake, both corporate and retail, and the need to meet the Basel-II norms, State Bank of Mysore (SBM) plans to augment its capital-to-risk assets ratio (CRAR).

The bank is considering plans to raise funds of around Rs 150 crore under tier-II capital during this fiscal, the SBM Managing Director, Mr Y. Vijayanand, told Business Line. However, the bank was yet to decide whether to raise the funds in one or more tranches, he added.

Mr Vijayanand was here to inaugurate the bank's automated teller machine in the premises of Yashoda Super Speciality Hospitals in Secunderabad.

SBM, which is bullish on the healthcare segment, is the lead banker for the Yashoda Hospitals group.

Having achieved a growth of 22.86 per cent in deposits at Rs 13,342 crore and 37.58 per cent in advances at Rs 9,124 crore, the bank targets an aggregate business of Rs 5,200 crore during the current fiscal - a growth of over 23 per cent.

Working in synergy with the SBI group, SBM will participate in several infrastructure, healthcare and core sector projects.

The bank finds major opportunities in the areas of project finance and loan syndication.

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