Canara Bank to Sell 70% Stake in Canbank Factors for ₹80.50 Crore

Mumbai: Canara Bank has decided to exit its factoring subsidiary. The Board of Directors, vide order dated 29 August 2026, accorded consent for the sale of the Bank’s 70% stake in Canbank Factors Limited to M/s Vidvedaa Private Limited.

The entire 100% equity shares of Canbank Factors Limited will be transferred for a purchase consideration of ₹80.50 crore. The transaction is subject to necessary regulatory, statutory and legal approvals.

Canbank Factors Limited is an unlisted subsidiary of Canara Bank. The Bank had earlier informed the exchanges about this subsidiary in November 2023.

In separate disclosures on the same day, Canara Bank also informed that:

• A Board Meeting is scheduled for Thursday, 3 September 2026 to consider raising foreign currency funds through Senior Unsecured Foreign Currency Bonds / Medium Term Note (MTN) Bonds under the existing MTN Programme. The trading window for Directors and designated persons will remain closed from 31 August to 5 September 2026.

• Annual interest of ₹248.10 crore on its Basel III Compliant Additional Tier 1 Bonds (ISIN: INE476A08241) was paid on time on 29 August 2026.