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Canara Bank gains after board OKs raising upto Rs 9,000 cr via bonds
24-Jun-22   12:37 Hrs IST

As per the capital raising plan, the board has approved raising upto Rs 5500 crore through basel III compliant additional tier I bonds and another Rs 3500 crore through basel III compliant additional tier II bonds during the FY 2022-23. The proposal is subject to market conditions and necessary approvals.

Canara Bank is a public sector bank. As of 31 March 2022, the Government of India held 62.93% in the bank.

The bank reported a 64.8% jump in standalone net profit to Rs 1,666.22 on 6.1% rise in total income to Rs 22,323.11 crore in Q4 FY22 over Q4 FY21.

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