Centurion Bank of Punjab to raise tire-I capital upto Rs 5 bn

Mumbai, July 2 (UNI) Centurion Bank of Punjab today said it would raise tier-I capital upto Rs 5.0 billion.

This will be done through an issue of equity shares via a Qualified Institutional Placement (QIP) offering, the bank said in a statement here.

Earlier in the month of May, the Bank raised Rs 1 billion through a private placement of debt qualifying as upper tier-II capital and recently it has announced a merger with Kochi-based Lord Krishna Bank, for which regulatory approval from Reserve Bank of India (RBI) is awaited, the statement added.

UNI