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Board of bank has approved raising Capital through Basel III Compliant Additional Tier I Bonds to the extent of Rs 4,000 crore subject to market conditions and necessary approvals, said Canara Bank
 "Canara Bank board okays fund raising of Rs 8,500 cr through bonds in FY25")
State-owned Canara Bank on Friday said the board of the bank has given approval for raising Rs 8,500 crore through bonds to fund business growth in 2024-25.
The decision in this respect was taken in a meeting held on Friday.
The board of the bank has approved raising Capital through Basel III Compliant Additional Tier I Bonds to the extent of Rs 4,000 crore subject to market conditions and necessary approvals, Canara Bank said in a regulatory filing.
Besides, it approved raising funds through Basel III Compliant Tier II Bonds to the extent of Rs 4,500 crore, it said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: May 31 2024 | 5:49 PM IST
