UCO Bank has received an approval for raising of Tier I Capital to the tune of Rs 4,243 crore through issue of AT-1 Bonds, issue of equity shares through FPO/Preferential Issue/ESOPs/QIP etc. The board of directors at their meeting held on June 18, 2016, has approved for the same.
The board has also approved the proposal for raising Tier II Capital to the tune of Rs 1,500 crore through issue of Tier II Bonds during the year financial years 2016-17 and 2017-18 depending upon the market conditions.
UCO Bank is a commercial bank and a Government of India Undertaking. The bank offers wide range of services includes Personal Banking, Corporate Banking, International Banking, Rural Banking and other services.