Bank of Baroda to mull capital plan on July 5

Bank of Baroda announced that a meeting of its board of directors is scheduled to be held on 5 July 2024 to consider & approve the capital plan for FY 2024-25 of raising funds.

The plan includes raising of funds through Additional Tier 1 and Tire 2 Debt Capital Instrument with an interchangeability option.

Bank of Baroda is one of India's largest banks with a strong domestic presence spanning 8,243 branches and 11,033 ATMs and Cash Recyclers supported by self-service channels. The Bank has a significant international presence with a network of 91 overseas offices spanning 17 countries. As of 31 March 2024, Government of India held 63.97% stake in the bank.

 

The public sector banks standalone net profit grew 2.33% to Rs 4,886.49 crore on 15.18% rise in total income to Rs 33,774.87 crore in Q4 FY24 over Q4 FY23.

The scrip rose 1.12% to end at Rs 275.35 on Friday, 28 June 2024.

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