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.

Canara Bank Board approves Capital Raising Fund for FY25

 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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