Bank of Maharashtra raises Rs 348 cr via tier 2 bonds

7 Dec 2022 , 03:40 PM

The state-run lender will allot 348 unsecured, non-convertible, taxable, fully paid up, basel III compliant tier II bonds having a face value of Rs 1 crore each, aggregating upto Rs 348 crore. The bank said that these bonds will be listed on the wholesale debt market segment of the BSE. Bank of Maharashtra is a public sector bank in India. The Government of India held 90.97% stake in the bank as of 30 September 2022. The state-run banks net profit surged 102.93% to Rs 535 crore in Q2 FY23 as against Rs 264 crore posted in Q2 FY22. Total income rose 7% year on year (YoY) to Rs 4,317 crore in Q2 FY23 over Q2 FY22. Powered by Capital Market – Live News