Page 2 - Canara Bank

State-owned Canara Bank mobilises $300 mn through IFSC banking unit

State-owned Canara Bank on Wednesday said it has mobilised USD 300 million via the IFSC Banking Unit. The net proceeds from the issue of the notes will be applied by the Issuer's IFSC Banking Unit at Gandhinagar towards the general corporate purposes, Canara Bank said in a regulatory filing. The bonds with maturity of 5 years carry a coupon rate of 4.896 to be paid semi annually, it said. Commenting on the occasion, Canara Bank MD and CEO K Satyanarayana Raju said, "We are delighted on the successful launch and pricing of this transaction, which enabled us to achieve a 30-bps tightening from the initial price guidance to final price guidance." The issuance was widely subscribed by investors across Asia, Middle East and Europe demonstrating the strong confidence in the Canara Bank's credit, he said.

Canara Bank mops up Rs 3,000 crore in additional Tier-I bonds at 8.27%

The coupon was lower than market expectations; this is the first AT-I issuance by a bank in FY25

First perpetual bond issue after valuation rule change sees strong interest

Canara Bank sold perpetual bonds with a call option at the end of 10 years at a coupon of 8.27 per cent compared to expectations of 8.30 per cent-8.34 per cent

Improving low-cost deposit mobilisation focus area for bank: Canara Bank MD

Improving CASA or low-cost deposit mobilisation is the focus area for the Canara Bank, and efforts taken in the direction are yielding results, its Managing Director K Satyanarayana Raju has said. "Current Account Savings Account (CASA) stood at 31 per cent of the total deposits, and the aim is to increase to 33 per cent by the end of the current fiscal," he told PTI. Rapid growth cannot be expected on the current account side, and it is another challenge to keep them for the long term as businesses tend to move them to term deposits quickly, he said. On the savings side, he said, "Our initiatives have started giving the results. You can see the accumulation and creation of the deposits. From year-on-year basis, June to June, if you see, there is an improvement of Rs 12,000 crore". The focus of the bank will continue on savings bank individual deposits by introducing unique and innovative products, he added. On business growth, he said the bank has given a target of 10 per cent fo

Amid deposit mobilisation issues, Canara Bank on expansion mode: MD Raju

Canara Bank chief executive and managing director K Satyanarayana Raju on Saturday said here that the bank is concentrating on expanding its business by launching new branches as deposit mobilisation has become a challenge in India nowadays. The chief executive noted that the bank launched 150 branches in fiscal 2023 '? 24 and is in the process of opening another 250 in FY25. "Because deposit mobilisation has become a big challenge for bankers nowadays in India, we have started now expanding the branches regularly," Raju told PTI on the sidelines of inaugurating a regional office in West Godavari district headquarters Bhimavaram. He said during the merger of Syndicate Bank with Canara Bank in 2020, as many as 1,300 branches of eithers lenders were shut down. In the Telugu states of Andhra Pradesh and Telangana, the chief executive officer said 22 new branches will be opened in the current fiscal. Out of the bank's total business of Rs 23 lakh crore, he said the Telugu states with

SBI raises MCLR by 10 basis points for all tenors; 3rd hike in 3 months

The latest increase in MCLR by SBI comes days after the RBI left the repo rate unchanged at 6.5 per cent

Indira Container Terminal case: Canara Bank takes Swiss auction route

The existing promoters of the company have made a settlement offer of Rs 260 crore, which is now the anchor bid/base bid for the Swiss challenge auction that the bank intends to conduct on Aug 23

Moderate earnings growth this year, but strong outlook: Bhandwaldar

Bhandwaldar discusses the potential end-of-earnings downgrades for the information technology (IT) sector, noting that upgrades will depend on the US outlook

11 public banks charge Rs 2,331 cr for non-maintenance of minimum balance

For the recovery of this charge from account holders, public sector banks have formulated slab structures based on different geographies and segments

Nifty PSU Bank index surges 3%; PNB soars 7% on strong Q1 results

PSU Banks in focus post Q1 earnings: PNB, BoI, BoB, Uco Bank and IOB rallied over 3% each. SBI, Canara Bank, Union Bank of India, Indian Bank and Central Bank were up 2-3%.

Canara Bank plans to open 250 branches to boost Casa deposits: MD & CEO

CEO says bank has cushion to manage RBI's tighter liquidity coverage norms

Canara Bank's Q1 net rises 10.5% to Rs 3,905 cr; NII expands 5.7%

NIMs under pressure; dip by 15 bps to 2.90%

Canara Bank's Q1 net rises 10.5% to Rs 3,905 cr; NII expands 5.7%

NIMs under pressure; dip by 15 bps to 2.90%

Public-sector banks make beeline for fundraise via infrastructure bonds

Canara Bank raises Rs 10,000 crore at 7.4% through 10-yr bonds

Canara Bank plans to raise Rs 10K cr through infrastructure bonds in FY25

A Canara Bank official said it expects to raise part of this amount this quarter (Q2FY25) itself, subject to market conditions. It is part of the efforts to diversify sources of funding

Canara Bank's official X account 'compromised', investigation underway

Bank advised users not to post anything on its X page. The bank page has 0.25 million followers

Fund managers pruned PSU exposure ahead of election result-day crash

Sold shares of 9 PSUs worth Rs 9,570 crore in May

Stocks to watch on June 03: Canara Bank, Coal India, NTPC, Ashoka Buildcon

Stocks to watch on June 03: Coal India reported a 7.5 per cent increase in coal production for May, reaching 64.4 million tonnes year-on-year

Canara Bank says it will raise up to Rs 8,500 cr in debt capital in FY25

State-owned lender to sell 14.5% stake in life insurance subsidiary via IPO

Canara Bank board okays fund raising of Rs 8,500 cr through bonds in FY25

State-owned Canara Bank on Friday said the board of the bank has given approval for raising Rs 8,500 crore through bonds to fund business growth in 2024-25. The decision in this respect was taken in a meeting held on Friday. The board of the bank has approved raising Capital through Basel III Compliant Additional Tier I Bonds to the extent of Rs 4,000 crore subject to market conditions and necessary approvals, Canara Bank said in a regulatory filing. Besides, it approved raising funds through Basel III Compliant Tier II Bonds to the extent of Rs 4,500 crore, it said.