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Canara Bank raises Rs 1,000 crore via Basel-III bonds

15 Dec 2016 Evaluate

Canara Bank, a leading nationalized bank has raised Rs 1000 crore of the permitted amount of Rs 2500 crore by issuing Basel-III complaint tier-I bonds with a coupon rate of 8.60 percent per annum. The capital is being raised to maintain healthy CRAR during the current financial year. Indian banks are expected to fully comply with Basel-III standards by March 2019 to improve and strengthen their capital planning processes.

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.

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
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