State-owned UCO Bank looks to raise up to Rs 500 crore




State-owned on Saturday said its board will meet next week to consider raising up to Rs 500 crore as tier-II capital.


The board of directors will consider the proposal for raising tier-II capital of up to Rs 500 crore at its meeting scheduled to be held on June 23, 2021, the lender said in a regulatory filing.





Tier-II capital of a bank consists of undisclosed reserves, revaluation reserves, general provisions and loss reserves, hybrid capital instruments, subordinated debt and investment reserve account.


The loss absorption capacity of tier-II capital is lower than tier-I capital.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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