Board of Canara Bank approves raising of capital

At meeting held on 15 June 2017

The Board of Canara Bank at its meeting held on 15 June 2017 has permitted the Bank to raise Capital at an appropriate time subject to necessary approvals and eligibility as per the following details :

- Equity capital up to Rs. 3500 crore, inclusive of premium to be decided, by way of Qualified Institutional Placement / Rights Issue / Preferential Allotment / Follow-on Public Offer / any other mode approved by Reserve Bank of India / Government of India;

- Basel III Compliant Additional Tier I Bonds up to Rs. 1800 crore; and

 

- Basel III Compliant Tier II Bonds up to Rs. 1000 crore;

The bank would seek the approval of the shareholders for raising of Equity Capital in the ensuing AGM of the Bank.

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