Central Bank targets 11.5% CAR to meet Basell-II norms

Kolkata, Jul 20 (UNI) In a bid to meet BASEL II norms, Central Bank, a wholly owned public sector bank, will raise capital worth Rs 680 to Rs 816 crore.

Speaking to mediapersons here today, Central Bank Executive Director Albert Tauro said the bank will increase the branch network by Rs 186 crore, out of which 20 would be in Bengal.

The price band for the issue would be Rs 85 to Rs 105 and the issue would remain open from July 24 to 27.

CBS has been implemented in 324 branches and 29 extension counters. ''We plan to expand the number of branches under CBS to cover 80 per cent of our business by the end of 2008,'' he said.

UNI