Karnataka Bank has received an approval for issuance of Basel III compliant Unsecured Tier-2 Subordinated Bonds in the nature of Debentures with a base issue size of Rs 150 crore and a green shoe option to retain oversubscription up to Rs 150 crore, aggregating up to Rs 300 crore in one or more tranches on private placement basis to the eligible investors. The Board of Directors of the Bank at their meeting held on March 22, 2022 has approved the same.
Karnataka Bank operates as a private sector bank. Its products and services include current account, demand, time, cumulative, cash certificates, insurance linked savings bank deposits, resident foreign currency accounts and senior citizens deposit schemes.
