India’s Andhra Bank to issue equity, bonds throughout financial year

By Tali Rackner

Norfolk, Va., May 31 – Andhra Bank informed the Bombay Stock Exchange that its board of directors reviewed the projections of the Internal Capital Adequacy Assessment Process and estimates a requirement of Rs. 27 billion of funds for the financial year 2016-2017.

The bank plans to raise funds at appropriate times by way of equity, tier 1 bonds and/or tier 2 bonds to meet the additional capital requirements.

The bank is based in Hyderabad, India.

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