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Saturday, January 5, 2013

UCO Bank seeks Rs 800-cr capital from Centre

Kolkata-based UCO Bank has sought Rs 800-crore capital from the Union Government to fund its growth needs and boost its capital adequacy ratio.

According to S. Chandrasekharan, Executive Director, the bank has already garnered Rs 1,000-crore worth capital by way of Tier-II bonds so far during this fiscal.

“We have asked for Rs 800 crore and we hope to get it soon,” Chandrasekharan said here on Saturday at a press meet on the occasion of its 71st Foundation Day.

The bank aims to achieve 20 per cent growth in business this year. “We aim to touch a business of Rs 3 lakh crore by March 2013,” he said.


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