Karur Vysya Bank plans to raise around Rs 12 billion to fund growth

The firm would, he said, be raising Tier-I or Tier-II capital of Rs 12 billion to fund the growth

Karur Vysya Bank says it plans to raise around Rs 12 billion to fund growth. The bank has been under pressure for some quarters over the level of loans having gone sour. 

It has, it says, taken measures to address this, having recognised NPAs worth Rs 200 billion. PR Seshadri, managing director, says they are in transition from this situation, to one of more productivity, efficiency and control of NPAs. “As (these) things are behind us now, we will be able to grow at  15-18 per cent (annually) comfortably,” he said, of the next three years. 

The firm would, he said, be