In a bid to fund its global business expansion, state-owned Canara Bank is set to mop up around $1 billion through issue of bonds in overseas market next week. In this regard, the bank will go for road-shows to Singapore, Hong Kong and London between May 27 and May 31.
The bank will use the raised fund for expansion of overseas business. As part of its global expansion plan, the Bangalore-based bank intends to open branches at 9 nine overseas destinations.
Besides, bank is planning to open offices in Sao Paulo (Brazil), Dar-es-Salaam (Tanzania), Tokyo (Japan), Abuja (Nigeria), Jeddah (Saudi Arabia), Qatar Financial Centre (Qatar), Frankfurt (Germany) and New York (the USA) by March 2015.
