Canara Bank to Raise ₹3,500 Crore, Appoints New Executive Director

Canara Bank to Raise ₹3,500 Crore, Appoints New Executive Director

Canara Bank has announced plans to raise ₹3,500 crore through Additional Tier-I (AT1) bonds as part of its strategy to further strengthen its capital base and support future growth. The capital infusion will enhance the bank’s ability to expand its lending operations and maintain regulatory capital buffers. AT1 bonds, a key component of Basel III-compliant capital instruments, will help the bank reinforce its financial position amid evolving market conditions.
In a significant leadership development, the bank has appointed Sunil Kumar Chugh as its new Executive Director, effective November 24, 2025, for a tenure of three years. His appointment is expected to bolster the bank’s executive team and contribute to its strategic initiatives. The announcement was made in Bengaluru on November 26, 2025, reflecting the bank’s ongoing efforts to strengthen governance and ensure sustained operational performance.