Canara Bank to frontload ECL provisioning, plans ₹8,000 cr capital raise
Canara Bank will frontload expected credit loss provisioning within two years. The bank revised its provisioning projections upward to ₹12-13,000 crore. This move will impact the capital adequacy ratio by sixty basis points. Canara Bank plans an ₹8,000 crore capital raise to cover this impact. The bank's gross advances grew eighteen percent year-on-year.
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