Corporation Bank needs Rs 6,000 cr of capital in next 3 yrs

19 Mar 2010, 1519 hrs IST,
Source:ET/REUTERS


  


MUMBAI: State-run Corporation Bank requires Rs 6,000 crore 

of capital in the next three years to meet credit growth, 

chairman and managing
director J.M. Garg said on Friday.

The bank plans to raise about Rs 1,000 crore via combination
of Tier-I and Tier-II capital in the first quarter of FY11, he said.

The bank is targetting loan growth of 25 percent in the next fiscal.