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Canara Bank to raise additional capital of Rs 2,400 crore

22 Dec 2015 Evaluate

Canara Bank has been permitted by board to raise additional capital of Rs 2,400 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 bank received ratings of ‘AAA’ with stable outlook from India Ratings & Research (a Fitch Group Company) for the proposed issue of the said bonds.

The 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.



Canara Bank Share Price

144.10 1.40 (0.98%)
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Peers
Company Name CMP
SBI 1110.10
PNB 114.70
Canara Bank 144.10
Bank Of Baroda 282.90
Union Bank Of India 190.75
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