Uco Bank is among the four banks that have been mandated by the government to increase their regional focus along with Indian Overseas Bank, Bank of Maharahstra and Punjab and Sind Bank. (Wikipedia)Uco Bank is looking to raise Rs 500 crore through its Basel III compliant tier-2 bonds in a bid to strengthen its capital base. Uco Bank is among the four banks that have been mandated by the government to increase their regional focus along with Indian Overseas Bank, Bank of Maharahstra and Punjab and Sind Bank. Uco Bank has estimated a capital requirement of Rs 4,500-5,000 crore for the entire fiscal. The bank has suffered a net loss of Rs 601.45 crore for the June quarter against a loss of Rs 633.88 crore a year ago.

Source: The Telegraph October 21, 2019 19:07 UTC