Bank of Baroda: Debentures to be issued soon

Bank of Baroda, the country’s leading bank, is about to issue bonds. The bank aims to raise Rs 1,000 crore through the bond issue. Last June, the board of directors had given permission to issue bonds up to Rs 5,000 crore.

Debentures are issued with the objective of planning infrastructure development projects and financing the construction of low-cost houses. While additional Tier 1 (Tier-1) capital bonds worth Rs 2,749 crore were issued in the last financial year, it has been informed that these will not be part of the sanctioned bonds now.

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The bank’s capital adequacy ratio was 15.84 percent in the financial year ended March this year. At the same time, non-performing assets have decreased to 6.61 percent.