Bank of Baroda Eyes Rs 10,000 Crore Capital Raise Through Infrastructure Bonds

11 Oct 2023 , 11:26 AM

Bank of Baroda’s stock saw a 1 % rise on October 10 ahead of a board meeting to discuss a significant fundraising proposal, aiming to raise up to Rs 10,000 crore through infrastructure bonds.

The PSU bank aims to secure long-term capital to meet the robust credit demand, aligning with its infrastructure and affordable housing financing goals. The Board of Directors meeting is scheduled today to deliberate and approve the issuance of long-term bonds for financing infrastructure and affordable housing projects.

In a separate update, Bank of Baroda informed about the appointment of Lal Singh as Executive Director by the Central Government, effective from October 9. Lal Singh previously held the position of chief general manager at Union Bank of India.

Bank of Baroda reported a notable 17 % year-on-year growth in total advances, amounting to Rs 10.3 lakh crore, with a particular surge in the domestic advances by 16.6 % year-on-year. The international book also witnessed a substantial increase of 21 % year-on-year.

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