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Corp Bank needs Rs 60 bn of capital in 3 years

Published on Fri, Mar 19, 2010 at 15:55 |  Source : Reuters

Updated at Fri, Mar 19, 2010 at 16:32  

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Corp Bank needs Rs 60 bn of capital in 3 years

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State-run Corporation Bank requires Rs 60 billion of capital in the next three years to meet credit growth, chairman and managing director JM Garg said on Friday.

The bank plans to raise about Rs 10 billion via combination of Tier-I and Tier-II capital in the first quarter of FY11, he said. The bank is targetting loan growth of 25% in the next fiscal.

  

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