Canara Bank to raise up to Rs 8,000 cr via equities, bonds
Mumbai, July 10 : Canara Bank on Friday said that its Board of Directors has approved raising of up to Rs 5,000 crore of equity share capital and up to Rs 3,000 crore through bonds during the financial year 2020-21.
It also approved "to raise capital through additional tier-I Basel-III compliant bonds to the extent of Rs 3,000 crore during the FY 2020-21 subject to market conditions and necessary approvals", the bank said in a regulatory filing.
Several banks, both private and public, are looking at raising funds of late.
The State Bank of India (SBI) earlier in the day said that its Central Board will meet on July 15 to consider raising funds through bonds. On Wednesday, the board of ICICI Bank approved a proposal to raise Rs 15,000 crore through fresh equity.
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