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DCB Bank to raise up to 4B rupees in fiscal H2 to boost capital buffers

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DCB Bank to raise up to 4B rupees in fiscal H2 to boost capital buffers

DCB Bank Ltd. is planning to raise up to 4 billion Indian rupees in the second half of fiscal 2017-2018 to boost its capital buffers, the Press Trust of India reported Jan. 30, citing CEO and Managing Director Murali Natrajan.

The bank will raise between 3 billion rupees and 4 billion rupees after September, Natrajan said. The added capital will strengthen its capital adequacy ratio by up to 2 percentage points. The bank's capital adequacy ratio stands at 13.33%, while its core Tier 1 capital adequacy ratio was at 11.39% as of Dec. 31, 2016. The capital infusion will raise its Tier 1 capital adequacy ratio to 13%, the CEO said.

The bank is also exploring raising Additional Tier 1 funds, Natrajan added.

As of Jan. 30, US$1 was equivalent to 67.79 Indian rupees.