Bank of India to raise up to Rs 1,800 cr in capital via tier-II bonds

Crisil upgrades rating for Tier-I bonds to "AA" reflecting the lender's improved capital ratios and greater ability to make future coupon payments

Public sector lender Bank of India (BoI) plans raise upto Rs 1,800 crore in capital through tier-II bonds in order to meet regulatory norms, and for business growth.

Meanwhile, rating agency Crisil upgraded the lender's tier-I bonds from "AA-" to "AA", reflecting the lender's improved capital ratios and greater ability to make future coupon payments.

The BoI stock closed 0.4 per cent lower at Rs 54.5 per share on BSE.

The Mumbai-based bank’s capital adequacy ratio (CAR) was 15.10 per cent as on June 30, 2021, up from 14.9 per cent in March 2021 and 12.8 per cent in June