The funds would be raised via issue of additional tier-I (AT I) or tier-II debt capital instruments with an interchangeability option in India/overseas.
Bank of Baroda is one of India's largest banks with a strong domestic presence spanning 8,200 branches and 11,401 ATMs and cash recyclers supported by self-service channels. The Bank has a significant international presence with a network of 93 overseas offices spanning 17 countries. As of 31 March 2022, Government of India held 63.97% stake in the bank.
The bank reported 168.46% surge in net profit to Rs 4,775.53 crore in Q4 FY23 as compared with Rs 1,778.77 crore in Q4 FY22. Total income increased 41.68% to Rs 29,332.74 crore during the quarter as compared with Rs 20,695.90 crore recorded in corresponding quarter last year.
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