Canara Bank, a leading nationalized bank, is reportedly planning to raise Rs 500 crore this financial year by selling stake in its non-core assets. The bank has decided to sell stakes in Can Fin Homes and Canbank Factors. The bank plans to sell 13% stake in Can Fin Homes and reduce its holding to 30%, while in case of Canara Factors, the bank considering two options, either dispose it off completely or dilute some 20% in the factoring business.
Canara Bank is an Indian state-owned bank headquartered in Bangalore, in Karnataka. It was established at Mangalore in 1906, making it one of the oldest banks in the country.
