Bank of Maharashtra plans to raise around Rs 1000 cr this year

State-run Bank of Maharashtra today said it plans to raise around Rs 500-1,000 crore by issuing Basel III-compliant Tier-I bonds this year.
"We will look at raising Basel III-compliant additional Tier-1 capital instead of taking up further equity right now. We may raise around Rs 500 crore to Rs 1,000 crore during this financial year," bank's Chairman and Managing Director S Muhnot told reporters on the sidelines of an event organised jointly by FICCI and Indian Banks' Association (IBA) here.
Currently, the city-based bank's capital adequacy ratio is around 11.
The bank sees its credit growth to moderate to around 12 per cent to 15 per cent this fiscal.

"We are looking at around 12 per cent to 15 per cent growth this financial year as compared to 18 per cent to 20 per cent last year," Muhnot said.
He said there are some signs of improvement in the manufacturing sector, adding that it would take one or two quarters for it to translate into growth in the banking system.