UCO Bank eyes Rs 1K cr capital infusion from government:
Reports
23/06/2014 00:34
According to a PTI report, public sector owned bank, UCO Bank on Saturday said that it is eying a capital infusion of nearly Rs 1,000 crore from the centre for FY 2014-15 as it seeks to meet its capital expenditure plans.
The state-owned lender reportedly said that it needs a Tier 1 capital of Rs 15,000 crore over the next three years.
“We would require Rs 15,000 crore as tier I capital in the next three years. We have requested the government for some Rs 1,000 crore (during the current fiscal)," UCO Bank Chairman and Managing Director Arun Kaul said, the PTI reported.
The Kolkata-based lender received a capital infusion of Rs 200 crore from the central government in 2013.
The lender has also kept open the option of tapping the capital markets including rights issue and qualified institutional placement, for raising funds even as it eyes fresh capital infusion from the central government.
The state-run lender expects a credit and deposit growth of 15 to 16 per cent in FY 2014-15.
“Last year, growth was 15-16 per cent (credit and deposit) so we expect similar growth this year as well”, UCO Bank said.
23/06/2014 00:34
According to a PTI report, public sector owned bank, UCO Bank on Saturday said that it is eying a capital infusion of nearly Rs 1,000 crore from the centre for FY 2014-15 as it seeks to meet its capital expenditure plans.
The state-owned lender reportedly said that it needs a Tier 1 capital of Rs 15,000 crore over the next three years.
“We would require Rs 15,000 crore as tier I capital in the next three years. We have requested the government for some Rs 1,000 crore (during the current fiscal)," UCO Bank Chairman and Managing Director Arun Kaul said, the PTI reported.
The Kolkata-based lender received a capital infusion of Rs 200 crore from the central government in 2013.
The lender has also kept open the option of tapping the capital markets including rights issue and qualified institutional placement, for raising funds even as it eyes fresh capital infusion from the central government.
The state-run lender expects a credit and deposit growth of 15 to 16 per cent in FY 2014-15.
“Last year, growth was 15-16 per cent (credit and deposit) so we expect similar growth this year as well”, UCO Bank said.
