Bank of Maharashtra gained 3.44% to Rs 15.94 after the public sector bank said it successfully raised Rs 205 crore through private placement of Basel III compliant tier II bonds.
The bank allotted 2050 Basel III compliant unsecured redeemable taxable subordinate tier II bonds. The bonds hold face value of Rs 10 lakh each and carry a coupon rate of 8%. Bonds will mature after 10 years i.e. on 11 February 2031.
The bank's net profit jumped 14.07% to Rs 154 crore on a 3.4% rise in total income to Rs 3,577 crore in Q3 FY21 over Q3 FY20. The bank's total Basel III Capital Adequacy Ratio stood at 13.65% with Common Equity Tier 1 ratio of 10.54% as on 31 December 2020.
Bank of Maharashtra is a major public sector bank in India. The Government of India held 93.33% stake in Bank of Maharashtra as on 31 December 2020.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app