Canara Bank has successfully raised Rs 1,500 crore under BASEL-III Compliant Tier-II Bonds on December 31, 2015 with a coupon of 8.40% per annum. This step has been taken after the bond committee decided to raise Basel III Compliant Tier-II Bonds amounting to Rs 1,500 crore by way of Private Placement.
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.