RBL Bank inches up on completing issuance of $100 million Basel III Compliant Tier 2 Notes
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RBL Bank is currently trading at Rs. 117.00, up by 0.35 points or 0.30% from its previous closing of Rs. 116.65 on the BSE.
The scrip opened at Rs. 117.45 and has touched a high and low of Rs. 117.65 and Rs. 115.90 respectively. So far 95843 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 226.45 on 08-Jul-2021 and a 52 week low of Rs. 100.80 on 12-May-2022.
Last one week high and low of the scrip stood at Rs. 117.65 and Rs. 100.80 respectively. The current market cap of the company is Rs. 6993.33 crore.
The Institutions and Non-Institutions held 50.00% and 50.00% stake respectively in the company.
RBL Bank has completed its first issuance of Basel III compliant unsecured and subordinated Tier 2 Notes aggregating to $100 million with a tenor of 117 months to United States International Development Finance Corporation (DFC), America’s development finance institution.
The Tier 2 issuance increases the Bank’s Total Capital Adequacy Ratio to 17.85%, enhancing the Bank’s overall capital adequacy. DFC is America’s development finance institution, part of the United States Government, and provides debt financing, equity investments, feasibility studies, investment funds, political risk insurance and technical assistance. DFC investments adhere to high standards and respect the environment, human rights and worker rights. This is DFC’s first investment in Basel III compliant Tier 2 Notes in India.
RBL Bank operates as a scheduled commercial bank. The bank offers its services under the five business verticals including corporate and institutional banking, commercial banking, retail banking, agri and development banking and financial markets. The bank was founded in 1943 and is based in Kolhapur, Maharashtra.
