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Bank of Baroda raises Rs 1,747 cr by issuing Basel III-compliant bonds

To comply with Basel III capital regulations, banks need to improve and strengthen their capital planning processes.

Press Trust of India  |  New Delhi 

Bank of Baroda

on Wednesday said it has raised Rs 1,747 crore by issuing compliant on a private placement basis.

The bank has issued and allotted compliant additional tier I bonds, said in a regulatory filing.

A total of 17,470 '8.99 per cent unsecured rated listed subordinated fully paid up additional tier I compliant non-convertible perpetual taxable bonds, Series XI' were allotted to 18 allottees on December 18, 2019, the state-run bank said.

To comply with Basel III capital regulations, need to improve and strengthen their capital planning processes.

These norms are being implemented to mitigate concerns on potential stresses on asset quality and consequential impact on performance and profitability of

Indian banking system has been implementing Basel III standards in phases since April 1, 2013 and is expected to fully implement these norms by March 2020.

Shares of traded down 3.42 per cent at Rs 98.75 on the BSE.

First Published: Wed, December 18 2019. 14:20 IST
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