Canara Bank Board approves Capital Raising Fund for FY25
The fundraising will be done through Debt instruments comprising additional Tier-I and Tier-II Bonds.
As per the exchange filing, the Board of Directors of the Canara Bank in its meeting has approved the Capital Raising Plan of the bank for the financial year 2024-25 amounting up to Rs 8500 Crore by way of Debt Instruments (Additional Tier I / Tier II Bonds).
Further, out of the above Capital Raising Plan, the Board of Directors of the bank has approved the following-
l. To raise Capital through Basel III Compliant Additional Tier I Bonds to Rs 4000 Crore during the FY 2024-25 subject to market conditions and necessary approvals.
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2. To raise Capital through Basel III Compliant Tier II Bonds to Rs 4500 Crore during the FY 2024-25 subject to market conditions and necessary approvals.
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