IOB seeks Rs 1000 cr capital from govt_3575

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It also expects loan growth of 20 per cent in the current fiscal with demand picking up as the busy seasons sets in end-September, Bhat said.
It is also looking at an income of Rs 60 crore from selling bankassurance products in the current financial year as compared to Rs 25 crore a year earlier.
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IOB seeks Rs 1000 cr capital from govt
  |    |     |  IOB seeks Rs 1000 cr capital from govt');" Rate                                                                                      Last Updated: 2009-09-09 13:02:44                    
"We were aligning our deposit mobilisation in a way that we don't have excess liquidity."
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He also said there was no room to cut deposit rates further as interest rates appear to have bottomed out.
The lender has no immediate plans to raise further capital, Bhat said.
The south India-based bank has restructured loans worth Rs 8200 crore in the current calender year, but expects 5-10 per cent slippage in restructured assets,You are not allowed to view links. Register or Login, he said.
"I am afraid of loans given to textile sector and to IT parks," he said referring to loans recast for these sectors.
The capital would also help the bank maintain its tier I capital adequacy ratio at 8 per cent, S.A. Bhat, chairman and managing director,You are not allowed to view links. Register or Login, told reporters on the sidelines of a banking summit.
The lender had been offering lower deposit rates to curb formation of excess liquidity in the wake of subdued credit demand,You are not allowed to view links. Register or Login, Bhat said.