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Punjab National Bank to raise up to Rs 11,000 crore via various securities

The Board of Directors accorded approval for raising common equity tier capital up to Rs 5,000 crore as per Basel III requirements, the bank said in a BSE filing.

Punjab National Bank to raise up to Rs 11,000 crore via various securities
A Punjab National Bank branch. Photo: Youtube
By PTI
Updated: Thu, Sep 28, 2017
09:01 am
New Delhi, PTI
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Public sector lender Punjab National Bank (PNB) on Wednesday said its board has approved raising up to Rs 11,000 crore through various securities.

The Board of Directors accorded approval for raising common equity tier capital up to Rs 5,000 crore as per Basel III requirements, the bank said in a BSE filing.

It further said the board has granted approval for raising Basel III compliant debt instrumentPerpetual Additional Tier I capital bonds to the extent of Rs 3,000 crore and Tier II bonds up to Rs 3,000 crore subject to availability of headroom in one or more tranches.