NEWS & ADVICE : PERSONAL LOAN
BoB plans to raise capital worth Rs 4000 cr this FY
By Vaibhav Aggarwal
Sep 8, 2010
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Bank of Baroda has plans to raise capital worth Rs 4000 crore this fiscal. The public sector lender sees sufficient scope to fulfill the aim.

"We have the scope to raise between Rs 3,000 crore-Rs 4,000 crore in the current fiscal. The funds would be raised as Tier-I and Tier-II capital," BoB's Chairman and Managing Director, M D Mallya said.

The bank expects to achieve growth of 20-25% in deposits this financial year.

"We did not achieve a good deposit growth during April-August in the current fiscal. But we expect to achieve a deposit growth of around 20-25 per cent in FY 11," Mallya said.

"We expect to achieve the target of our deposit growth in the second-half of the current fiscal," he said.

He also said that mostly credit offtake takes a pick in the second half of the fiscal following festival season and that the bank.

 


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