Home Uncategorized Vijaya Bank puts off its capital raising plan

Vijaya Bank puts off its capital raising plan

12
0
- Advertisement -

MUMBAI: Vijaya Bank has decided to put on hold the capital raising plan for the time being, according to a filing made by the bank with the stock market on May 20, 2018 after its board meeting.

In fact, the bank informed the stock market on May 17 that it had included capital raising on the agenda for the board meeting to be held on May 20. However, bank has not attributed any reason for the change in mind on the capital raising programme.

According to a banking expert, Vijaya Bank is currently not under pressure to raise capital as it sits on a comfortable capital adequacy ratio (CAR) of 13.90 per cent with a common equity Tier 1 (CET1) ratio of 10.56 per cent as on March 31, 2018.

The bank, which posted a net profit of Rs207.31 crore for the fourth quarter ending March 31, 2018 against Rs203.99 crore a year ago, has a share capital of Rs1306.15 crore and a total equity of Rs9836.69 crore as of March 31, 2018 against the corresponding figures of Rs998.85 crore and Rs7321.01 crore respectively, a year ago.

While the equity base expanded by 34.36 per cent during the past one year, the asset base has increased by only 14.68 per cent – from Rs1,54,881.57 crore to Rs1,77,632.05 crore.

 

 

- Advertisement -
Google search engine