Vijaya Bank to raise Rs 700-cr tier-II capital.

(From Business Line)

from BUSINESS LINE, September 25, 2006 Hyderabad, Sept. 24 - Left with hardly any headroom for raising tier-I capital for augmenting the capital adequacy ratio (CAR), the Mangalore-based public sector bank, Vijaya Bank has decided to mop up around Rs 700 crore under upper, tier-II capital before the year-end, its Chairman and Managing Director, Mr Prakash P. Mallya, said

Despite mobilising Rs 250 crore under lower tier-II capital at a coupon rate of 9.25 per cent recently, the bank still finds it difficult to maintain its CAR at around 11.5 per cent to meet the requirements under the Basel-II regime from next fiscal, Mr Mallya told …