Centurion Bank''s Rs 65-crore public issue before September

Bangalore: Centurion Bank expects its proposed Rs 65-crore rights-cum-public issue to hit the stock markets by the third quarter of the current financial year, says Centurion Bank chairman and managing director V Janakiraman.

Post-issue, the capital adequacy ratio of the bank is likely to be 10 per cent, he says. However, he does not detail the current figures citing regulatory restrictions.

The recapitalisation plan for the bank is currently proceeding as per schedule, he says. The merger of Bank Muscat and Centurion will take effect as soon as the Goa Bench of the Mumbai High Court approves of it, he adds.

The bank, which has a gross non-performing asset base close to Rs 240 crore and a net non-performing asset of Rs 110 crore, expects to report its operational profit for its fourth quarter of the last fiscal, Janakiraman says.