Canara Bank aims to raise $2.3 to $2.5 billion internationally
Business
Canara Bank is gearing up to raise between $2.3 billion and $2.5 billion through Foreign Currency Non-Resident (FCNR-B) deposits and overseas loans, hoping to attract more dollars into its accounts.
Managing Director Brajesh Kumar Singh shared that it targets to raise $1.5 billion from FCNR-B deposits by September 2026.
Canara Bank eyes $1bn international borrowings
The bank has already pulled in $750 million and should hit $1 billion this month.
Next, it is planning another around $1 billion through international borrowings in the third quarter.
The bigger goal? Cut ₹10,000 crore in bulk deposits while keeping costs steady at about 5.3%.