Syndicate Bank is considering to raise about Rs.3,500 crore, its Chairman and Managing Director M. G. Sanghvi said here on Monday.
He told presspersons that the bank was hopeful of capital infusion from the Central Government soon. It was also considering raising Rs.1,500 crore equity capital from the market, and Rs.2,000 crore through Tier-II bond issue. “It is at an initial level of thought,” he said. The board had cleared the proposal, and the bank was studying the situation. If the market condition improved, it might go in for a partial raising of capital this financial year, he said. This was mainly for the expansion plans and to meet the Basel-III requirements, he said.
