Canara Bank has decided to raise additional capital of Rs 1,500 crore through issue of BASEL-III complaint Tier-II Bonds (Series-I). The Bond Committee during the course of its meeting held on December 16, 2013 has decided for the same. The bank received ratings of ‘AAA / Stable’ from CRISIL and ‘AAA (hyb)’ from ICRA for the proposed issue of the said bonds.
The bank has reported a fall of 5.29% in its net profit at Rs 625.94 crore for the quarter ended September 30, 2013 as compared to Rs 660.97 crore for the same quarter in the previous year. However, total income of the bank increased by 13.29% at Rs 10427.48 crore for quarter under review as compared to Rs 9203.61 crore for the quarter ended September 30, 2012.
