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UCO Bank plans to raise Rs.4,243 Crore

UCO Bank plans to raise Rs.4,243 Crore

The Board has also approved the proposal for raising Tier II Capital to the tune of Rs. 1500 Crore through issue of Tier II Bonds during the year financial years 2016-17 and 2017-18 depending upon the market conditions.

 

UCO Bank has announced that the Board of Directors of the Bank at its meeting held on June 18, 2016, has approved the proposal for raising of Tier I Capital to the tune of Rs.4,243 Crore through issue of AT-1 Bonds, issue of equity shares through FPO/Preferential Issue/ESOPs/QIP etc.,

The Board has also approved the proposal for raising Tier II Capital to the tune of Rs. 1500 Crore through issue of Tier II Bonds during the year financial years 2016-17 and 2017-18 depending upon the market conditions.

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