Indian Bank to raise Rs 1,500-crore capital through tier I & II bonds

Public sector lender Indian Bank is planning to raise up to Rs 1,500 crore capital through additional tier I bonds (AT1 bonds) of Rs 500 crore and tier II bonds of Rs 1,000 crore to enhance its capital profile.

As of December 31, 2020, total capital adequacy ratio (CAR) stood at 14.06 per cent and tier 1 CAR was at 11.18 per cent. The bank's common equity tier I (CET 1) continues to be relatively strong at 10.35 per cent as of December 31, 2020. Kolkata-based Allahabad Bank merged with Indian Bank from April 1, 2020. The Centre’s stake in the