Canara Bank has raised Rs 2,500 crore through the qualified institutional placement (QIP) route. The QIP was fully subscribed and saw a strong response from foreign as well as from domestic qualified institutional buyers (QIBs). This capital will enable the bank to improve the CET (common equity tier) ratio and in turn, will support further asset growth.
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.