Page 6 - Canara Bank

Stocks to Watch: TCS, HDFC Bank, Adani Ent, Sugar, Paras Defence, BHEL

Stocks to watch today: Lenders of debt-ridden Reliance Capital (RCap) have fixed April 26 as the new date for the second auction. As per the earlier schedule, it was to be held on April 11

Canara Bank sells stake in Russian joint venture to SBI for Rs 121 crore

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.

Centre appoints K Satyanarayana Raju as new MD & CEO of Canara Bank

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.

Banks under pressure; Nifty Bank, PSU Bank indices crack up to 5% in 2 days

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

Canara Bank's profit up 92%; Poonawalla Fin net jumps 88% to Rs 150 crore

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

Canara Bank reports 92% rise in net profit in Q3FY23, NPAs fall to 5.89%

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

Moody's upgrades ratings for PNB, Canara Bank and Bank of Baroda to 'Baa3'

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

Canara Bank to sell its stake in Russian joint venture to SBI for Rs 114 cr

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

Canara Bank plans to raise funds through sale of certificates of deposit

The notes are rated A1+ by CRISIL

Canara Bank hits highest level since February 2018; surges 83% in 6 months

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

Canara Bank looks to grow business to Rs 30 trillion in five years

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

SBI, LIC among key govt-run financial institutions set to see new faces

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 crosses business milestone of Rs 20 trn, stock down by 6.54%

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.

Buoyed by firm demand, HDFC Bank mulls fresh Rs 5,000-cr Tier 2 bond sale

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

PSB index soars 3%; these three constituents have zoomed over 50% in 1 mth

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

Canara Bank wins 'Banker's Bank of the Year Award 2022' for India

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

NCLT dismisses bankruptcy proceedings against GTL Infra, GTL Ltd

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

PSU Bank index soars 73% from June lows; UCO, BOI, Canara zoom up to 102%

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

HDFC Bank, Canara Bank get RBI approval for rupee trade with Russia

Three others got permission earlier, but no deal so far

Six years after demonetisation, deployment of ATMs set for biggest spike

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