Bank of Baroda seeks capital infusion

State-owned Bank of Baroda has sought capital infusion of Rs 1,800 crore from the government, its chairman and managing director S S Mundra said today.
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Aug 17, 2013, 02.48 PM | Source: PTI

Bank of Baroda seeks capital infusion

State-owned Bank of Baroda has sought capital infusion of Rs 1,800 crore from the government, its chairman and managing director S S Mundra said today.

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Bank of Baroda seeks capital infusion

State-owned Bank of Baroda has sought capital infusion of Rs 1,800 crore from the government, its chairman and managing director S S Mundra said today.

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SS Mundra, CMD, Bank of Baroda
State-owned Bank of Baroda has sought capital infusion of Rs 1,800 crore from the government, its chairman and managing director S S Mundra said today.
    
"We have sought a capital infusion of Rs 1,800 crore from the government in the form of preferential allotment," Mundra told reporters on the sidelines of FICCI Banking Conclave here.

Also read: Chidambaram says expects calm to return to domestic markets
    
Government holding in the bank stood at 55.4 percent.
    
Mundra said that the focus of the bank was retail lending, agriculture and MSME sectors.
    
In retail, advances grew by 17 percent last fiscal, 14 percent in agriculture and 23 percent in MSME, he said.

"We expect advances to grow by 18 percent to 20 percent in the three sectors this fiscal," Mundra said.

About overseas operations, he said that bank's 30 percent of total business generated was in 24 countries where it had presence.

Nearly 30 percent of the gross profit was from overseas operations, he said.

"We will expand overseas where we have our presence and know the environment," Mundra said.

Bank of Baroda stock price

On May 06, 2016, Bank Of Baroda closed at Rs 150.55, up Rs 1.80, or 1.21 percent. The 52-week high of the share was Rs 216.25 and the 52-week low was Rs 109.45.


The latest book value of the company is Rs 172.49 per share. At current value, the price-to-book value of the company was 0.87.

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Bank of Baroda seeks capital infusion

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