UCO Bank raises Rs 750 crore capital

Kolkata, Nov 4 (IANS) State-run UCO Bank on Friday said it raised Rs 750 crore additional tier-1 capital by way of private placement.

“The Bank has raised non-convertible, unsecured subordinated fully paid-up Basel III compliant perpetual debt instruments eligible for inclusion in additional Tier I capital of Rs 750 crore through private placement,” the lender said in a filing to BSE.

Under Basel III norms, the bank’s capital adequacy ratio was at 9.90 per cent at the end of the first quarter ended June 30 in the current fiscal year.