BoB directors to finalise plans to raise capital at Jan 8 meeting

CRISIL believes BoB will be able to maintain adequate capitalisation over the medium term, backed by capital support from the Union government

Whole-time directors of the Bank of Baroda (BoB) will meet on January 8 to finalise plans to raise capital through debt instruments. This is to enhance capital adequacy of the public sector bank (PSB).

BoB is attempting to integrate operations and focus on synergy after two PSBs – Vijaya Bank and Dena Bank – merged with it on April 1, 2019.

The meeting of the Capital Raising Committee (CRC) of whole-time directors is scheduled to be held on January 8, the company told the BSE.

Debt capital comprises of additional tier-I bonds and tier-II bonds.

On January 2, the bank raised tier-II capital worth