Canara Bank’s Board of Directors has approved the raising of foreign currency funds through the issuance of Senior Unsecured Foreign Currency Bonds. The bank plans to raise up to USD 2,000 million (approximately ₹16,500 crore) in the international market under its existing USD 3 billion Medium Term Note (MTN) Programme. The issuance will be facilitated through its IBU Gift City Branch or other overseas branches.
Canara Bank to Tap International Markets for Funding
The Board of Directors of Canara Bank has given its nod to raise a significant amount of capital from international markets. In a meeting held on September 3, 2026, the Board approved the issuance of Senior Unsecured Foreign Currency Bonds, with the aim of raising up to USD 2,000 million. This move falls under the bank’s established USD 3 billion Medium Term Note (MTN) Programme.
Strategic Funding Initiative
These bonds can be issued as either Fixed Rated or Floating Rated instruments. The fundraising initiative will be executed through Canara Bank’s International Banking Unit (IBU) located in Gift City, Gandhinagar, or potentially through any of its other overseas branches. The primary objective of this fundraising is to strengthen the bank’s foreign currency funding base and diversify its sources of capital.
Board Meeting Details
The Board meeting commenced at 10:00 A.M. (IST) and concluded at 12:25 P.M. (IST) on the same day, September 3, 2026. This decision marks a strategic step for Canara Bank in managing its international liabilities and bolstering its financial resilience in the global landscape.
Source: BSE
