Industry

UCO Bank may raise up to ₹500 crore

State-owned UCO Bank on Saturday said its board of directors will meet next week to consider raising up to ₹500 crore as tier-II capital.

The board of directors will consider the proposal for raising tier-II capital of up to ₹500 crore at its meeting scheduled to be held on June 23, the public sector lender said in a regulatory filing.

Tier-II capital of a bank consists of undisclosed reserves, revaluation reserves, general provisions and loss reserves, hybrid capital instruments, subordinated debt and investment reserve account. The loss absorption capacity of tier-II capital is lower than that of tier-I capital.


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Printable version | Jul 24, 2021 8:45:05 PM | https://www.thehindu.com/business/Industry/uco-bank-may-raise-up-to-500-crore/article34860697.ece

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