Bank of Maharashtra in order to augment its Capital Adequacy requirements, the bank has decided to issue Tier I Unsecured, Non Convertible, Subordinated, Perpetual Bonds (Innovative Perpetual Debt Instruments) in the nature of Promissory Notes up to Rs. 350 crore and Unsecured, Redeemable, Non Convertible, Subordinated, (Lower Tier II) Bonds in the nature of Promissory Notes up to Rs. 1000 crore. The Lower Tier II Bonds are for a period of 120 months.
The issue opens on December 26, 2012 and closes on December 29, 2012 and the deemed date of allotment is December 31, 2012.
The bank posted a rise of 65.32% in its net profit at Rs 166.01 crore for the quarter ended September 30, 2012 as compared to Rs 100.42 crore for the same quarter in the previous year. Total income has increased by 25.15% at Rs 2434.09 crore for quarter under review as compared to Rs 1945.01 crore for the quarter ended September 30, 2011.
Gross non-performing assets (NPAs) of the bank have decreased to 2% for the quarter as against 2.24% in the previous quarter. Net non-performing assets (NPAs) of the bank were at 0.88%, lower than 0.97% in the previous quarter.
