Latest News | Bank of Maharashtra to Raise Up to Rs 1,000 Cr in Q3

New Delhi, Oct 16 (PTI) State-owned Bank of Maharashtra (BoM) on Monday said it plans to raise up to 1,000 crore from bonds to fund business growth.

During the half year ended September 2023, the bank raised equity capital of Rs 1,000 crore through QIP and Rs 515 crore through Tier II bonds.

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Going forward, the bank would raise between Rs 500 crore and Rs 1,000 crore from Tier I and Tier II bonds, BoM managing director A S Rajeev said.

Asked about the timing, he said it would be done during the current quarter. With regard to credit growth, he said it should be upwards of 20 per cent.

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The Net Interest Margin (NIM) in the remaining part of the current fiscal is expected to remain around 3.5 per cent, he added.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)