UCO Bank announced that the bank's board has approved the proposal for raising of Rs 500 crore.
In an exchange filing on Wednesday, UCO Bank said, the board of directors of the bank at its meeting held on 23 June 2021 approved the proposal for raising of Tier II capital upto Rs 500 crore.
Shares of UCO Bank were trading 1.49% higher at Rs 14.99 on BSE.
UCO Bank is a commercial bank. Its segments include treasury, corporate/wholesale banking, retail banking and other banking operations. It offers personal banking, corporate banking, international banking and rural banking services. As of 31 March 2021, the Government of India held 94.44% stake in the bank.
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