Capital needed for growth and provisioning: UCO Bank chief

August 18, 2020 17:07

State-run UCO Bank has secured approvals from its board of directors and shareholders to raise Rs 3,000 crore capital this fiscal as the lender requires resources to achieve growth and provision for non- performing assets, an official said on Tuesday. The capital will be raised at an appropriate time either through public offer or Qualified Institutional Placement (QIP) or preferential issue, UCO Bank MD and CEO A K Goel said. -- PTI

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