Bank of India has raised Rs 3000 Crore by issue of Basel-III Compliant Tier-II Bonds. The coupon rate is 8.52% and tenor is 10 years.
Bank of India is one of the five largest public sector banks in India, with GOI holding 64.43% as on June 30, 2015. The bank has reported a net loss of Rs 1126.24 crore for the quarter ended September 30, 2015 as compared to net profit of Rs 786 crore for the same quarter in the previous year.