Canara Bank is planning to raise up to Rs 5,000 crore equity capital through various modes in the current fiscal year (FY21) to boost its capital adequacy ratio. In view of certain expansion plans of the bank, the implementation of Basel III norms, and consequent capital charge, there is a need to increase the capital to further strengthen the capital adequacy ratio. The bank will seek shareholders' nod at the annual general meeting (AGM) to be held on August 10, 2020 through audio/visual means in view of the coronavirus pandemic.
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.
