Karnam Sekar, managing director and chief executive officer of IOB, has recently said the bank has sought Rs 6,000 crore funds from the government for the current fiscal. The Capital to Risk (Weighted) Assets Ratio (CRAR) of the Bank stood at 10.02 per cent during the quarter ended June, 2019.
According to stock exchange filings, the government held around 92.52 per cent stake in IOB
in the quarter ended June 2019.
IOB's board of directors has approved issue of equity capital during 2019-20 to a maximum extent of 300 crore equity shares with appropriate premium by way of public issue, rights issue, shares to employees, preferential issue and Qualified Institutional Placement. It has received shareholders' approval for the same in its Annual General Meeting on July 10, 2019.