Corporation Bank to raise Rs 650 crore
Corporation Bank, the Mangalore-based public sector lender, has decided to raise Rs 650 crore to fund its growing business which may cross Rs 1,50,000 crore this fiscal.
The lender has informed that it will raise Rs 650 crore through the issue of bonds at different coupon rates.
The bank had earned a net profit of Rs 893 crore for the financial year ended March 2009.
The shares of Corporation Bank closed today at Rs 353, up 2% compared to its previous close. The counter has made 52-week- high and low of Rs 354 and Rs 155 respectively.