Oriental Bank of Commerce is intending to raise Tier 1 Capital through Private Placement of Basel Ill Compliant Additional Tier 1 Bonds of Rs 10,00,000 each at par aggregating to Rs 500 crore with an option to retain oversubscription of upto Rs 500 crore. The proposed Bonds Issue has been rated as 'A’ (Hyb.) with negative outlook by ICRA and 'A' with negative outlook by CARE.
The Bank’s gross NPA for the October-December quarter of the current fiscal increased to 13.80%, as compared to 7.75% in the same quarter of the previous year. Besides, Bank’s Net NPA stood at 9.68% in Q3FY17.
