• search

Bank of Baroda to raise Rs 1000cr tier-II capital

Written by: Staff
|

Mumbai, Nov 20: The public sector Bank of Baroda (BoB) plans to raise Tier-II capital of Rs 1000 crore and also plans to start operations in 10 additional countries to ramp up its overseas presence.

Announcing this to BSE, the bank's release issued here quoting its Chairman&Managing Director Anil K Khandelwal said that the capital would be raised in two months. He added that the bank would start wealth management services in India and abroad soon. Meanwhile, RBI has given the bank license to operate in 10 more countries, including Canada, New Zealand, Australia, Ghana, Sri Lanka and Bangladesh.

Presently, overseas operations account for 18 per cent of the bank's total business and 35 per cent of the total net profit. One of the major focus areas of expansion is the Gulf region. BoB is the only Indian bank present in UAE (six branches). It intends to open a branch in Kuwait.

UNI

For Daily Alerts

For Breaking News from Oneindia
Get instant news updates throughout the day.

Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more