Canara Bank rose 1.49% to Rs 184.40 after the bank said that its board has approved the capital raising plan for the financial year 2022-23 amounting up to Rs 9000 crore by way of debt instruments (additional tier I / tier II bonds).
As per the capital raising plan, the board has approved raising upto Rs 5500 crore through basel III compliant additional tier I bonds and another Rs 3500 crore through basel III compliant additional tier II bonds during the FY 2022-23. The proposal is subject to market conditions and necessary approvals.
Canara Bank is a public sector bank. As of 31 March 2022, the Government of India held 62.93% in the bank.
The bank reported a 64.8% jump in standalone net profit to Rs 1,666.22 on 6.1% rise in total income to Rs 22,323.11 crore in Q4 FY22 over Q4 FY21.
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