Canara Bank

Canara Bank on Thursday said it has sold its stake in Russian joint venture Commercial Indo Bank LLC (CIBL) to the other venture partner State Bank of India (SBI) for about Rs 121.29 crore. CIBL, incorporated in 2003, is a joint venture in Russia between SBI (60 per cent) and Canara Bank (40 per cent). Canara Bank, in a regulatory filing, said it has received the entire consideration amount equivalent to Rs 121.29 crore on Thursday for the sale of its stake. The Bengaluru-based state-owned bank entered into the agreement for sale on November 11, 2022.

State-owned Canara Bank on Tuesday said the Union Government has appointed K Satyanarayana Raju as its Managing Director and CEO, with immediate effect. He will be replacing L V Prabhakar who demitted office on December 31, 2022. Raju, who is a Physics Graduate, Post Graduate in Business Administration (Banking and Finance) and CAIIB (Certified Associate of Indian Institute of Bankers), had earlier served Canara Bank as Executive Director since March 10, 2021. He has a very rich and vast experience in all segments of banking including Branch Banking, Corporate Credit, Retail Credit, Agri Financing, Credit Monitoring, Credit Recovery, Compliance etc. Also his rich experience and exposure led to digital transformation of banking products and services, the bank said in a release.

Global broking and research firm CLSA said on Thursday, that the Adani Group poses no "significant downside risk" to Indian banks.

While its assets under management grew 28 per cent YoY at Rs 13,929 crore, Poonawalla Fincorp's gross non-perfo­rming assets were down by 236 basis points YoY to 1.69 per cent

Last week, Canara Bank said that is planning to sell its stake in Russian joint venture Commercial Indo Bank LLC (CIBL) to State Bank of India (SBI) for about Rs 114 crore

India's improving macros, banks improving credit profile trigger upgrade

Canara Bank on Friday said it plans to sell its stake in Russian joint venture Commercial Indo Bank LLC (CIBL) to the other venture partner State Bank of India (SBI) for about Rs 114 crore. CIBL, incorporated in 2003, is a joint venture in Russia between SBI (60 per cent) and Canara Bank (40 per cent). Canara Bank has entered into a share sale agreement in relation to sale of equity shares held by it in Moscow-based CIBL with SBI, the bank said in a regulatory filing. The Bengaluru-based state-owned bank entered into the agreement for sale on November 11, 2022, it said. Based on share sale agreement and with the consent of Central Bank of Russia, entire shares held by Canara Bank have been transferred to SBI on November 30, 2022, it said. "However, consideration in USD as agreed by the parties is not yet received. Expected to complete the transaction on or before March 31, 2023," it said. Canara Bank is expected to receive USD 14.67 million or about Rs 114 crore from SBI for its

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In the past one week, it has rallied 10 per cent, as against a marginal 0.40 per cent gain in the S&P BSE Sensex

As of March 2020, that is before amalgamation - Canara Bank business was over Rs 10 trillion

The first quarter of calendar 2023 will see new faces heading four large public-sector banks -- Canara Bank, Bank of Baroda, Indian Overseas Bank, and Bank of India

Canara Bank on Friday said it has crossed the business milestone of Rs 20 lakh crore. "Canara Bank has achieved a milestone of crossing the total global business of Rs 20,00,000 crore as on 22nd December, 2022," the bank said in a regulatory filing. Stock of Canara Bank closed at Rs 291.45 apiece on BSE, down by 6.54 per cent.

The quantum raised through Tier 2 bonds is set to rise much further in coming days as Axis Bank is slated to sell Rs 12,000 crore of such instruments on Friday

In the past one month, the Nifty PSU Bank index has rallied 17.4 per cent as against a 2.1 per cent gain in the S&P BSE Sensex

The winners are judged on their ability to deliver returns, strategy, innovation, technology and product & services in their respective geographies in the last 12 months

The court said several companies owe GTL Infrastructure money as it has made claims of Rs 13,393 crore against Aircel and others

In the past one month, the Nifty PSU Bank index has rallied 31 per cent as compared to a 2.8 per cent rise in the Nifty 50 index

Three others got permission earlier, but no deal so far

ATM deployments had hovered between 225,000 and 235,500 units, before sniffing the 260,000-mark recently

The Nifty PSU Bank index hit a new high of 3,811.15 on Wednesday, and has zoomed 67 per cent from its 52-week low of 2,283.85, touched on June 20, 2022.