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Canara Bank raises Rs just one,012 cr by issuing Basel III bonds

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NEW DELHI: Canara Bank on Friday said it offers raised Rs 1,012 crore by issuing Basel III compliant bonds.

The bank has issued and even allotted Basel III certified additional tier I bonds amounting to Rs just one,012 crore, it claimed in a regulatory filing.

The bank said it has supplied a total of 10,120 non-convertible, perpetual, taxable, subordinated, fully paid up, unsecured credit card bonds carrying coupon price of 8.30 %.

There were a total involving three allottees to this connection issuance, said the state-owned lender.

Under the worldwide accepted Basel-III capital polices, banks need to improve and even strengthen their capital preparing processes.

Basel III best practice rules are being implemented in stages since 2013 by typically the Indian banks to minimize concerns on potential pressure on asset quality and even consequential impact on performance and even profitability of banking companies.

The deadline for the domestic banks to meet these guidelines will be September 30, 2020.

Canara Bank stock closed in Rs 100.85 about BSE, up 0.55 per cent from previous near.

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