BoB board approves raising up to $7 billion
时间:2024-06-26 10:24:57 阅读(143)
Bank of Baroda on Friday said its board has approved raising up to $7 billion through bonds and issuance of certificates of deposits (CDs). The bank will raise up to $1 billion under its medium-term note programme, up to $3 billion through issuance of CDs and up to $3 billion through bilateral and other borrowings, it said in a filing with the exchanges.
“As banks’ credit-to-deposit ratio (CD ratio) is rising, they are approaching the market with liabilities products such as certificates of deposits, refinancing, bonds, among others,” said Sanjay Agarwal, senior director at CareEdge ratings.
Also read: RIL Q4 Results Highlights: Reliance Q4 net profit at Rs 19,299 cr beats estimates, supported by growth across biz
Bank of Baroda’s total deposit stood at Rs 11.49 trillion as on December end, up 17% on a year-on-year basis. Advances grew 20% to Rs 9.23 trillion. The bank raised its marginal cost of funds-based lending rate (MCLR) on overnight tenure by 5 basis points to 7.95% on April 12, and raised the same on the one-year tenure by 5 bps to 8.60%.
The stock on Friday ended down 0.7% to Rs 176 on the BSE.
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