Public sector lender Union Bank of India is planning to raise Rs 750 crore by issuing Basel III compliant bonds. Crisil Ratings has assigned ‘AAA/Negative’ to the bank’s proposed Basel III compliant tier II bonds of Rs 750 crore.
In view of implementation of global standard Basel III Capital Regulations, banks need to improve and strengthen their capital planning processes. The norms are being implemented to mitigate concerns on potential stresses on asset quality and consequential impact on performance and profitability of banks.
Union Bank of India is one of the largest government-owned banks of India. The bank had 4196 branches in India as on 31 March 2016 and to add to it 4 overseas branches.
