Canara Bank to raise up to ₹8,500cr AT1 Tier2 bonds
Business
Canara Bank is gearing up to raise up to ₹8,500 crore in FY2027 through debt instruments; basically, it's looking to boost its financial strength and fuel future growth.
The board just approved the plan: up to ₹4,500 crore will come from Additional Tier 1 bonds and up to ₹4,000 crore from Tier 2 bonds.
Canara Bank profits dip nearly 10%
The fundraising news comes as Brajesh Kumar Singh steps in as the new Managing Director and CEO.
He'll lead the bank until April 30, 2029, or until further orders.
Meanwhile, Canara Bank's latest quarter saw profits dip by nearly 10%, but there's a silver lining: its asset quality improved with lower bad loans, showing better loan recovery and risk management.