Central Bank of India to raise Rs.700 crore tier-II capital

The bank is raising Rs.700 crore through issue of bonds that would qualify as tier-II capital. CRISIL has assigned the bond issue a rating of AA and said the bank's weak asset quality, modest capitalisation levels and average earnings profile temper these rating strengths. Banks NPA level is 6.85% as on March 31, 2006 Tier-I capital adequacy is 7.19% as on March 31, 2006