Indian Bank PB No: 5555, 254-260 Avvai Shanmugam Salai Phone: +91 4428134300p:+91 4428134300 CHENNAI, 600014  India Ticker: INDIANBINDIANB Indian Bank in cash chase Calcutta: The board of Indian Bank on Friday has approved a capital raising plan of Rs 7,000 crore. This includes raising an equity capital of Rs 4,000 crore through qualified institutional placements, a follow-on offer, rights issue or a combination of these. Another Rs 3,000 crore will come from AT1/tier-2 bonds in one or more tranches. In a statement to the bourses, Indian Bank said it will obtain shareholders' approval to raise capital at an EGM scheduled in March. The bank's capital adequacy ratio has improved to 14.06 per cent for the quarter ended December 2020 from 13.64 per cent for the September quarter. The public sector bank has posted a net profit of Rs 514 crore for the quarter ended December 31, 2020. Net loss in the corresponding year-ago quarter was Rs 1,739 crore. The bank's net revenue grew 15 per cent at Rs 5,710 crore from Rs 4,966 crore for the third quarter of 2019-20. Yes Bank Private sector lender Yes Bank has reported a consolidated net profit of Rs 147 crore for the December quarter and a jump in asset quality stress because of Covid-19. The bank had suffered a loss of Rs 18,564 crore in the year-ago period when it recognised all the hidden stress in the balance sheet. Managing director and chief executive Prashant Kumar said this is the third straight quarter where the bank has shown a rise in profits and it continues with its derisking strategy, which led to a marginal rise of 1.7 per cent in advances to Rs 1.69 lakh crore. Related Businesses Indian Bank - - Customer Copyright © 2024 by CreditRiskMonitor.com (Ticker: CRMZ®). All rights reserved.  You are not permitted to use this report or the information contained herein for any purpose not expressly permitted by CreditRiskMonitor.com, Inc. Except as expressly permitted by CreditRiskMonitor.com, Inc., you are not permitted, in whole or in part, to copy, alter, correct, adapt, translate, enhance, lease, sell, sublicense, assign, distribute, publish, otherwise make available to any third party, or prepare derivative works or improvements of this report or any of the information contained therein. You are not permitted to reverse engineer, disassemble, decompile, decode, or adapt the software, algorithms or other processes used to prepare this report, or otherwise attempt to derive or gain access to the source code of same. You agree not to remove, alter, obscure, combine or otherwise change any disclaimers, trademarks, copyrights, other intellectual property rights, proprietary rights, or other symbols, notices, marks, or serial numbers on or relating to any copy of the report or on marketing or other materials that CreditRiskMonitor.com, Inc. may provide to you. You will not use this report in any manner or for any purpose that infringes, misappropriates, or otherwise violates any right of any party, or that violates any applicable law.   The FRISK® scores, agency ratings, credit limit recommendations and other scores, analysis and commentary are opinions of CreditRiskMonitor.com, Inc. and/or its suppliers, not statements of fact, and should be one of several factors in making credit decisions.  Any reliance you place on the information in this report is strictly at your own risk. Except as expressly provided by CreditRiskMonitor.com, Inc., no warranties or representations of any type, including without limitation of results to be obtained, merchantability or fitness for a particular purpose, are made concerning any part of CreditRiskMonitor.com, Inc.’s service, including without limitation the FRISK® scores.  The information published above has been obtained from sources CreditRiskMonitor considers to be reliable.  CreditRiskMonitor.com, Inc. and its third-party suppliers do not guarantee or validate the accuracy and completeness of the information provided in this report, the underlying information input to create the FRISK® scores, and specifically do not assume responsibility for not reporting any information omitted or withheld.  By using this website, you accept the Terms of Use Agreement.  Contact Us: 845.230.3000 Fundamental financial data concerning public companies may be provided by Refinitiv (click for restrictions) Friday, April 19, 2024

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