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Central Bank of India raises Rs 500 crore by issuing bonds

08 Mar 2017 Evaluate

Central Bank of India, one of the leading public-sector banks, has raised Rs 500 crore by issuing Basel III compliant tier II bonds. The bank will offer an interest rate of 8.62% per annum to the bond holders. The bank has allotted 5000 Non-Convertible, redeemable, unsecured Basel-III compliant Tier-II bonds of Rs 10 lakh each.

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.

Peers
Company Name CMP
State Bank Of India 980.00
PNB 123.90
Bank Of Baroda 241.50
Canara Bank 119.75
Union Bank Of India 186.15
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