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New Delhi: State-run IDBI Bank plans to raise $1 billion (about Rs 4,500 crore) through overseas bonds by October next year, an official said Tuesday.
The bank's chairman and managing director R.M. Malla said the funds would be raised in three-four tranches over the next 12-months and is the part of its plans to garner $1.5 billion to meet its capital requirements and credit needs of corporates.
The bank had earlier raised around $500 million.
On being asked about IDBI's exposure to commercial real estate, given the arrests of senior officials of state-run banks and financial institutions, Malla said the bank had started giving out loans to the sector only three-four years back and its exposure to the sector was minimal.
The bank has gone through its entire asset portfolio in response to a letter from the finance ministry to asses the bank's asset quality, he added.
'We have gone through our asset portfolio. That is very robust and we assure that our systems are well placed,' said Malla.
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The bank's chairman and managing director R.M. Malla said the funds would be raised in three-four tranches over the next 12-months and is the part of its plans to garner $1.5 billion to meet its capital requirements and credit needs of corporates.
The bank had earlier raised around $500 million.
On being asked about IDBI's exposure to commercial real estate, given the arrests of senior officials of state-run banks and financial institutions, Malla said the bank had started giving out loans to the sector only three-four years back and its exposure to the sector was minimal.
The bank has gone through its entire asset portfolio in response to a letter from the finance ministry to asses the bank's asset quality, he added.
'We have gone through our asset portfolio. That is very robust and we assure that our systems are well placed,' said Malla.
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