Canara Bank to raise Rs 4,000 crore capital this year

Bangalore, July 20 (UNI) Public Sector Canara Bank aimed at raising Rs 4,000 crore capital over the next one year.

''We will go to the market at an appropriate time,'' Bank Chairman M B N Rao told newspersons here.

With the Government holding 73 per cent equity, there was wide scope for tapping the capital market, he added.

''Various options of capital in tier-I and tier-II are available to the bank,'' Mr Rao said, adding that the bank aimed at reaching a capital adequacy ratio of about 12 per cent.

To a question on the possibility of further increase in interest rates, he said much depended on the increase in oil prices and international interest rates. With the Government and the RBI effectively checking inflation domestically, the conditions were neutral, but external factors were uppish, he added.

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