“We are looking for equity depending on the growth that happens in asset side,” Padmaja Chunduru, Managing Director and CEO, Indian Bank, said in an interview with CNBC-TV18.
Following Allahabad Bank’s merger with it, a small component of AT-1 bonds of Allahabad Bank are due in March.
“Those were at a much higher cost. We have to repay that. So this raising of AT-1 bonds would partially offset that and also help us in our growth capital,” she said.
Credit offtake has been a bit muted so far in the corporate segment, she said.
“However, now some disbursements are happening this quarter (Q3) which is much better than the last quarter (Q2). So I think coming quarter (Q4) would be even faster. Still depending on the market perceptions and condition, we will go for equity raising as required,” Chunduru said.
For entire discussion, watch video...
(Edited by : Santosh Nair)