Moneycontrol
Aug 17, 2013 02:48 PM IST | 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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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.


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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.

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