Breaking News

You are here » Indian-Commodity  :  Top News  :  Indian Overseas Bank raises Rs 800 crore through bond issue

04-Nov2016

Indian Overseas Bank raises Rs 800 crore through bond issue

In a bid to beef up its tier-II capital, Indian Overseas Bank (IOB) has issued debt bonds worth Rs 800 crore on private placement basis. The bank has issued Basel III Compliant Tier II Bonds Series-I in the nature of Promissory notes with a coupon of 9.24% per annum with a maturity of 10 years.

IOB has reported a net loss of Rs 1450.50 crore for the quarter ended June 30, 2016 as compared to a net profit of Rs 14.76 crore for the same quarter in the previous year. Total income of the bank decreased by 12.05% to Rs 5868.44 crore for the quarter under review, from Rs 6672.11 crore for the corresponding quarter of the previous year.


Related News

View all news

Copper futures settle higher on trade talk optimism

Copper futures ended higher on Friday as investors monitored ongoing trade talks between the United States and China. Optimism over a trade deal has been rising as top US and Chinese trade negotiators......

Physical Rubber prices witness some firmness on Friday

Physical Rubber prices showed some firmness on Friday due to improved demand from domestic stockists amid an ongoing supply crunch in the market.Spot prices for RSS-4 variety remained unchanged at Rs 125/kg;......

Crude oil futures end higher Friday

Crude oil futures ended higher on Friday as US equities and other assets found traction against the backdrop of upbeat US-China trade talks. The US and Chinese trade representatives reportedly met for......

Top News

View all news

City Union Bank opens four new branches in Tamil Nadu

City Union Bank has opened four new branches in the state of Tamil Nadu on February 22, 2019. The bank has inaugurated 621th and 622nd branch at Nambiyur and Moolapalayam, respectively. The bank has also......

Syndicate Bank enters into partnership with Srei Equipment Finance

Syndicate Bank has entered into partnership with Srei Equipment Finance to jointly provide financing for construction and farm equipment. Under the arrangement, Syndicate Bank would leverage on its low-cost......

Tata Motors to supply 80 Electric buses to West Bengal Transport Corporation

Tata Motors will supply 80 Electric buses to the West Bengal Transport Corporation (WBTC). The company has already supplied 20 Ultra Electric 9/9m AC E-buses, with remaining 20 9/9m AC E-buses scheduled......