Andhra Bank intends to raise Rs. 2,700 crore to meet the capital requirement in the current financial year.
An estimate of the capital required was arrived at following a review of the projections of Internal Capital Adequacy Assessment Process (ICAAP) requirements at the bank’s Board of Directors meeting on Monday.
In a regulatory filing on Tuesday, the bank said it would be looking to raise the capital by equity, Tier I and II bonds.
On Monday, the bank had reported a consolidated net profit of Rs.557.99 crore in 2015-16, a 15 per cent drop compared to the Rs.655.78 crore posted in the previous fiscal.
