Credit rating agency -- ICRA has reaffirmed/ upgraded the ratings of Canara Bank's bonds Instruments. The agency has reaffirmed rating on the bank’s Basel III Tier II Bonds worth Rs 7900 crore at AA+ (hyb) (Stable); removed from Watch with Developing Implications. It has also upgraded rating on Basel III Addition Tier I Bonds worth Rs 1500 crore at AA (hyb) (Stable) from AA-(hyb) and removed from Watch with Developing Implications.
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.