Canara Bank to Raise Rs 8,500 Crore via Bonds in FY25
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.
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.
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