Canara Bank to Raise Up to Rs 5,000 Crore via Basel III Tier 2 Bonds

Canara Bank plans to raise up to Rs 5,000 crore through Basel III-compliant Tier 2 bonds on February 26 to strengthen its capital base and support future growth. The issue includes a base amount of Rs 2,000 crore with a green shoe option of Rs 3,000 crore. The bank aims to meet rising loan demand amid strong retail-led credit expansion and has board approval for additional capital raising through Tier 2 and AT1 bonds.