Canara Bank has announced a qualified institutional placement (QIP) worth Rs 3,500 crore. In an interview to CNBC-TV18, PV Bharathi, ED of Canara Bank spoke at length about the same.
Bharathi said we are looking to raise funds from domestic and overseas market via QIP.
She further said that the total capital plan is of Rs 6,300 crore and QIP will be of Rs 3,500 crore.
We are projecting tier-1 ratio to reach 9.25 percent by end of FY18, said Bharathi.
Government holding in bank will decline to 57.61 percent post fund raising via QIP, she added.
Talking about numbers, she said Q3 of FY18 loan growth is seen at 8-9 percent.
Watch accompanying video for more details.
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