Printer Friendly

-Indian State Bank of Travancore gets board approval for capital hike.

BANKING AND CREDIT NEWS-December 28, 2010--Indian State Bank of Travancore gets board approval for capital hike(C)2010 M2 COMMUNICATIONS http://www.m2.com

28 December 2010 - Indian State Bank of Travancore (BOM:532191) has been cleared by its board of directors to launch a INR5bn (USD110.9m/EUR84m) rights issue, the lender said in a filing with the National Stock Exchange of India on Tuesday.

Earlier in December, the bank said it would use the funds from the cash call to bolster its credit growth and reinforce its capital adequacy ratio.

((Comments on this story may be sent to info@m2.com)).END.PUB430>PDDecember 28, 2010>JNBANKING AND CREDIT NEWS.PRICEDATENOT APPLICABLE.DAY

COPYRIGHT 2010 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2010 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:M2 Banking & Credit News (BCN)
Date:Dec 28, 2010
Words:115
Previous Article:-ICRA retains A4+ rating on Bharat Fashions & Apparels bank facilities.
Next Article:-Fitch corrects Suashish Diamonds' outlook to "stable".
Topics:

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters