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IDBI Bank plans to raise up to $300 mn to boost Tier-I capital 

March 6, 2014
Abhijit Lele, Buisness Standard

With its tier-I capital adequacy ratio slipping below eight per cent, IDBI Bank plans to raise up to $300 million through Basel-III-compliant bonds by the end of March.

The government has stipulated for public sector banks, tier-I capital adequacy should be at least eight per cent. The Reserve Bank of India (RBI) has prescribed banks maintain overall cent capital adequacy of at least nine per cent.

B K Batra, deputy managing director of IDBI Bank, told Business Standard, “We want tier-I capital adequacy ratio to be above eight per cent for March.” The bank aims to raise $200-300 million by issuing tier-I bonds by the end of this financial year.

Read more: Business Standard

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