Public-sector bank, Central Bank of India is planning to raise up to Rs 3,000 crore from the public offering, including the rights issue. The bank will seek shareholders nod for this at Annual General Meeting (AGM) to be held on June 30, 2016. The fund would be raised to an extent that government holding should not fall below 51 percent of the total capital. During FY16, the government had infused Rs 535 crore in the bank through preferential allotment of shares.
The bank has reported a net loss of Rs 898.04 crore for the quarter ended March 31, 2016 as compared to a net profit of Rs 174.29 crore for the corresponding quarter of the previous year. Its total income declined by 8.33% to Rs 6711.88 crore for the quarter under review from Rs 7321.50 crore for the quarter ended March 31, 2015.
