State-owned Canara Bank announced on Thursday its plan to raise up to ₹4,000 crore through Basel III compliant Tier II bonds. These bonds will have a tenure of 10 years with a call option after five years, the bank stated.
Earlier, the bank’s board had approved raising capital through Basel III compliant Additional Tier I Bonds worth ₹4,000 crore and Tier II Bonds amounting to ₹4,500 crore for the financial year 2024-25.
As part of this plan, Canara Bank had already raised ₹3,000 crore through Tier I bonds in August 2024.