MoneyWorks4Me

Canara Bank raises Rs 900 crore under BASEL-III Compliant Tier-II Bonds

08 Jan 2016 Evaluate

Canara Bank has successfully raised Rs 900 crore under BASEL-III Compliant Tier-II Bonds on January 07, 2016 with a coupon of 8.40% per annum. With this, the bank has raised Rs 2,400 Crore under BASEL-III Compliant Tier-II Bonds during the current financial year - 2015-16.

Earlier, as per the powers delegated by the board of the bank, the bond committee has decided to raise Basel III Compliant Tier -II Bonds amounting to Rs 900 crore (as Series - II) 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.



Peers
Company Name CMP
State Bank Of India 959.00
PNB 112.00
Bank Of Baroda 232.35
Canara Bank 118.60
Union Bank Of India 168.10
View more..