Central Bank of India, one of the leading public-sector banks, has raised Rs 500 crore by issuing Basel III compliant tier II bonds. The bank will offer an interest rate of 8.62% per annum to the bond holders. The bank has allotted 5000 Non-Convertible, redeemable, unsecured Basel-III compliant Tier-II bonds of Rs 10 lakh each.
Central Bank of India has posted a net loss of Rs 605.70 crore for the quarter ended December 31, 2016, as compared to a net loss of Rs 836.62 crore for the quarter ended December 31, 2015. Total income of the Bank decreased by 1.79% at Rs 6787.87 crore for Q3FY17, as compared Rs 6911.62 crore for the corresponding quarter previous year.