OPEN APP
Home / Companies / News /  Canara Bank raises 1,500 crore via Basel-III compliant bond
Listen to this article

State-owned Canara Bank on Thursday said it has raised 1,500 crore by issuing Basel-III compliant bonds.

"Our bank came out with issuance of 1,500 crore of additional tier I bonds on 30th November 2021. 

"The bank received total bid amount of 4,699 crore, out of which full issuance of 1,500 crore was accepted at 8.05 per cent," Canara Bank said in a regulatory filing. 

To comply with Basel-III capital regulations, banks globally need to improve and strengthen their capital planning processes.

These norms are being implemented to mitigate concerns on potential stresses on asset quality and consequential impact on performance and profitability of banks. 

Shares of Canara Bank closed at 207.10 apiece on BSE, up 0.15 per cent from the previous close. 

This story has been published from a wire agency feed without modifications to the text.

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint. Download our App Now!!

Close
×
Edit Profile
Get alerts on WhatsApp
My ReadsRedeem a Gift CardLogout