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Axis Bank to Raise Rs 5,000 cr from Debentures
June 15, 2017
Axis Bank is planning to raise Rs. 5,000 crore by issuing Unsecured Redeemable Non-Convertible Subordinated Debentures, Basel- III Compliant Tier 2 Debentures (Series 27) at Rs. 10 lakh each.
Axis Bank reported a 43% drop in the net profit in the March quarter this year as it stood at Rs. 1,225 crores. It was mainly on the account of provisioning bad loans that increased considerably this year. In the previous fiscal, the bank had recorded a net profit of Rs. 2,154 crore during the same period.
