Canara Bank to raise Rs 1,000 cr from bonds

Canara Bank to raise Rs 1,000 cr from bonds.

The Bangalore-headquartered Canara Bank said on March 20, 2014 that it plans to raise Rs 1,000 crore from bonds to fund business growth.

canara-bank-logoThe bond committee has decided to raise additional capital of Rs 1,000 crore through issue of Basel-III compliant Tier-II bonds, Canara Bank said in a filing on the BSE.

In January, the bank had raised Rs 1,500 from bonds to enhance capital base.

The Bangalore-based bank also got capital infusion of Rs 500 crore from the government during the current fiscal.

The fund support to Canara Bank was part of Rs 14,000 crore overall capital infusion plan for the public sector banks (PSBs).

Capital infusion by the government has been done with the twin objective of adequately meeting the credit requirement of the productive sectors as well as to maintain regulatory capital adequacy ratios in PSBs.

Tagged with 
Canara Bank

Leave a Reply

Your email address will not be published. Required fields are marked *