Canara Bank has received an approval to raise additional capital of Rs 2400 crore through issue of BASEL-III compliant Tier II Bonds by way of Private Placement at a Coupon Rate as decided by the Bond Committee of the Bank to support the asset growth during 2015-16 & also to maintain healthy level of CRAR. The Bond Committee during the course of its meeting held on November 17, 2015, has approved for the same.
Canara bank has reported 40.65% fall in its net profit at Rs 478.84 crore for first quarter ended June 30, 2015 as compared to Rs 806.86 crore for the same quarter in the previous year. However, total income of the bank has increased by 4.47% at Rs 12252.64 crore for quarter under review as compared to Rs 11728.01 crore for the quarter ended June 30, 2014.
