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BoB board agrees to loss set-off plan against share premium account

Updated: Share Article AAA State-run Bank of Baroda (BoB) has received board approval to set off accumulated loss of over ₹11,048 crore against the share premium account of the bank. The board of directors of the bank approved the proposal on June 5, BoB said. The bank is to set off its accumulated losses of ₹11,048.44 crore as of March 31 by utilising an equivalent amount standing to the credit of share premium account of bank as on the date of set off and take the same into account during FY22, it said. The setting off is subject to approval from shareholders and prior permission from the RBI.

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Bank of Baroda board approves setting off Rs 11,048 cr loss against share premium account

The Board of Directors of the bank has approved the proposal on June 5, 2021, Bank of Baroda said in a regulatory filing

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Bank of India to allot preferential shares to govt for Rs 3,000 cr capital infusion

Bank of India to allot preferential shares to govt for Rs 3,000 cr capital infusion Synopsis The board of directors of the bank will be considering preferential allotment of equity shares of Rs 3,000 crore to Government of India after obtention of shareholder s approval in the extra ordinary general meeting and other related regulatory approvals. The bank on March 31 had informed about getting Rs 3,000 crore capital infusion from the government. Related NSE Explore Now NEW DELHI: State-run Bank of India on Monday said it has convened an extra-ordinary general meeting (EGM) of shareholders this month for seeking approval to the allotment of preferential shares to the government for Rs 3,000 crore.

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Bank of India to allot preferential shares to govt for Rs 3,000 crore

Bank of India to allot preferential shares to govt for Rs 3,000 crore
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Bank of India raises Rs 750 crore through bond issuance

State-run Bank of India on Wednesday said it has raised Rs 750 crore by issuing Basel III compliant bonds. Bank of India has raised Rs 750 crore via Basel III compliant additional tier 1 (AT-1) bonds on January 27, 2021 on private placement basis, the bank said in a release. The issue was over-subscribed with receipt of bids of up to Rs 1,017 crore against the issue size of Rs 750 crore. The coupon on the bonds was 9.04 per cent for five years and it carries a call option, it added. Stock of Bank of India closed 2.97 per cent down at Rs 49 apiece on BSE. Dear Reader,

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