Corporation Bank is planning to raise up to Rs 5,000 crore through issuance of fresh equity shares, debt instruments on private placement basis, rights issue or through QIP in the current fiscal (FY20).
The bank will seek approval from shareholders at its meeting scheduled for June 29 for raising of capital by issuance of fresh equity shares or by issuance of additional tier I or tier II capital as per Basel III guidelines.
Corporation Bank is a Mangalore-based mid-sized public sector bank which was established in 1906.
