Search
Uco Bank May Need as Much as Rs. 4,300 Crore to Cover Losses
June 28, 2017
According to professional investment information and credit rating agency ICRA, Public sector lender Uco Bank may require tier 1 capital worth up to Rs. 4,300 crore for the current and next fiscal to cover losses from the past two years.
ICRA has estimated that Uco Bank would need Rs. 1800 to Rs. 3000 crore worth of equity capital and remaining balance from Rs. 4,300 crore in another form of capital of tier 1 category. The agency also said that Uco’s distributable reserves have greatly depleted which is why raising more tier 1 capital would be difficult for it.
