Bank of Baroda, a public sector bank is likely to raise Rs 775 crore by the way of a preferential issue of equity shares or convertible warrants before March-end 2012. This capital infusion will increase the government's stake in the bank to 58% from 57%. The government had infused about Rs 2,600 crore in BoB last year.
The bank’s net profit for the second quarter of the current fiscal has grown 14.40% at Rs 1166.08 crore as compared to Rs 1019.30 crore for the corresponding quarter of the last year. The bank’s total income has surged 36.74% at Rs 7985.78 crore for the quarter under review as compared to Rs 5839.96 crore for the second quarter of the previous year.
