Canara Bank Secures Rs 8,500 Crore in Bonds for 2024-25 Growth

Canara Bank, a state-owned bank, announced on Friday that its board has approved raising Rs 8,500 crore through bonds to support business growth in 2024-25. The decision was made during a meeting held on Friday. The bank’s board has given the green light to raise capital through Basel III Compliant Additional Tier I Bonds up to Rs 4,000 crore, pending market conditions and necessary approvals, as stated in a regulatory filing. Additionally, it has approved raising funds through Basel III Compliant Tier II Bonds up to Rs 4,500 crore.