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Canara Bank
Canara Bank

Canara Bank raises 1,635 cr through AT-1 bonds

As at September-end 2020, the bank's capital to risk-weighted assets ratio (CRAR) stood at 12.77% and out of this, tier-I was 9.54% and tier-II was 3.23%

State-owned Canara Bank on Thursday said it has raised 1,635 crore through issuance of additional tier-I bonds. “Canara Bank has raised capital by issuing additional tier-1 (AT-1) bonds to the tune of 1,635 crore at 8.50% coupon on December 31, 2020," a release said.

This will help the lender increase its capital adequacy ratio.

As at September-end 2020, the bank's capital to risk-weighted assets ratio (CRAR) stood at 12.77%. Out of this, tier-I was 9.54% and tier-II was 3.23%.

In the second quarter ended September 2020, the bank reported 28% dip in profit after tax at 444 crore compared to 616 crore in the same quarter of the previous fiscal.

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

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