Central Bank of India is planning to raise up to Rs 500 crore by issuing Basel III compliant Non-Convertible Redeemable Unsecured Tier 2 Bonds in the nature of promissory notes of Rs 10 lakh each. The Capital Raising Committee of the Board of Directors of the Bank in their meeting, scheduled to be held on February 09, 2017, will consider the same.
Central Bank of India has posted a net loss of Rs 605.70 crore for the quarter ended December 31, 2016, as compared to a net loss of Rs 836.62 crore for the quarter ended December 31, 2015. Total income of the Bank decreased by 1.79% at Rs 6787.87 crore for Q3FY17, as compared Rs 6911.62 crore for the corresponding quarter previous year.