Canara Bank is planning to introduce its sixth venture capital fund to fetch around Rs 500 crore. This is similar to its fifth fund which is expected to be drawn down by September, 2014. The public sector lender is managing the venture capital fund through a wholly-owned subsidiary Canbank Venture Capital Fund which was set up during late 1989.
Recently, the bank successfully raised Rs 1,500 crore under BASEL-III Complaint Tier-II Bonds. The said issue had opened on December 30, 2013 and closed on January 03, 2014.
Canara Bank is India’s fifth largest Public Sector bank (PSB) in terms of assets. As on September 30, 2013, it had assets of around Rs 450,200 crore and advances of around Rs 281100 crore. The bank’s strong market position is underpinned by its market share of around 5.0 percent in deposits and 4.8 percent in advances as on September 30, 2013.
