Dena bank to raise Rs 1,100 crore from Tier II Bonds

Dena bank to raise Rs 1,100 crore from Tier II Bonds
Indian banks are expected to fully comply with Basel III standards by March 2019. Representational image. Photo: Reuters
By ZeeBiz WebTeam
Updated: Tue, Aug 30, 2016
10:57 am
Mumbai, ZeeBiz WebDesk
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Public sector lender, Dena Bank announced on Monday that it is looking to raise Rs 1,100 crore from Basel lll Compliant Tier ll Bonds in one or more tranches and instruments.

"The Bank has placed an agenda to board of directors seeking approval for raising of Basel III compliant Tier ll bonds up to an amount of Rs 1,100 crore in one or more tranche, in one or more instruments," the company said in a regulatory filing.

A report by PTI stated that all Indian banks are expected to fully comply with Basel III standards by March 2019 to improve and strengthen their capital planning processes. 

The norms are being implemented to mitigate concerns on potential stresses on asset quality and consequential impact on performance and profitability of banks, the report added.