Canara Bank to Raise Rs 8,500 Crore via Bonds in FY25
May 31, 2024 16:25
Canara Bank's board approves raising Rs 8,500 crore through bonds to fund business growth in 2024-25, including Basel III Compliant Additional Tier I and Tier II Bonds.
New Delhi, May 31 (PTI) State-owned Canara Bank on Friday said the board of the bank has given approval for raising Rs 8,500 crore through bonds to fund business growth in 2024-25.
The decision in this respect was taken in a meeting held on Friday.
The board of the bank has approved raising Capital through Basel III Compliant Additional Tier I Bonds to the extent of Rs 4,000 crore subject to market conditions and necessary approvals, Canara Bank said in a regulatory filing.
Besides, it approved raising funds through Basel III Compliant Tier II Bonds to the extent of Rs 4,500 crore, it said.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.