Canara Bank rose 2.03% to Rs 155.80 after the bank said that its board will meet on Friday, 28 May 2021, to consider and approve capital raising plan of the bank for FY 2021-22.
The bank plans to raise funds through qualified institutional placement (QIP) issue/follow-on public offer (FPO)/rights issue/ preferential issue or any other mode or through a combination thereof and/or through issue of BASEL III bonds or such other securities as may be permitted under applicable laws etc., subject to necessary approvals/ permissions.
Canara Bank is a public sector bank. The Government of India held 69.33% stake in the state-owned commercial bank as of 31 March 2021. As on 31 March 2021, the bank had 10,416 number of branches, out of which 3,069 are Rural, 3,140 Semi- Urban, 2,094 Urban and 2,113 Metro along with 13,452 ATM.
The public sector bank's net profit stood at Rs 1010.87 crore in Q4 FY21 compared with net loss of Rs 3,259.33 crore in Q4 FY20. Total income increased 51.33% to Rs 21,522.60 crore in Q4 FY21 over Q4 FY20.
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