CSB To Go In For Rs 40-cr Bond Issue

Kochi, Sept 18: | Updated: Sep 19 2003, 05:30am hrs
Thrissur-based Catholic Syrian Bank (CSB) is to go in for a Rs 40-crore Tier-II bond issue in a month as part of its efforts to shore up its capital base.

After the annual general meeting in Thrissur on Thursday, bank chairman and CEO NR Achan told mediapersons that the bank which presently has a capital adequacy ratio of 10.5 per cent would raise it to over 11 per cent after the bond issue. The issue of Rs 20 crore would have a greenshoe option of an equal amount.

The bank which would also plough back its profits would then be at a very comfortable position on the capital adequacy front, he said, adding that the bank had targeted a total of capital adequacy of Rs 250 crore in two years.