Oriental Bank of Commerce (OBC) intends to raise Tier II Capital through Private Placement of Basel III Compliant Tier II Bonds of Rs 10,00,000 each at par aggregating to Rs 500 crore with an option to retain oversubscription of up to Rs 500 crore.
The bank is targeting 12% credit growth in FY17 with focus on retail and SME lending. The bank witnessed a 3.78 percent credit growth in FY16.
Oriental bank of Commerce offers a wide range of services in the Personal Banking, NRI services, Loan, Deposit Schemes and Financial services etc.