CANBK

June 12 (Reuters) - Canara Bank Ltd CNBK.NS:

• APPROVES CAPITAL RAISING PLAN UP TO 95 BILLION RUPEES

• TO RAISE 60 BILLION RUPEES VIA TIER II BONDS

• TO RAISE 35 BILLION RUPEES VIA ADDITIONAL TIER I BONDS

• TO RAISE CAPITAL THROUGH BASEL III COMPLIANT ADDITIONAL TIER I BONDS WORTH 35 BLN RUPEES

Source text: ID:nBSE6N7G6b

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June 5 (Reuters) - Canara Bank Ltd CNBK.NS:

• CANARA BANK - TO CONSIDER AND APPROVE CAPITAL RAISING PLAN OF BANK FOR FY 2025-26

Source text: ID:nBSE4JTg7L

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May 30 (Reuters) - Canara Bank Ltd CNBK.NS:

• CANARA BANK- TO CONSIDER AND APPROVE CAPITAL RAISING PLAN OF BANK FOR FY 2025-26

Source text: ID:nBSE26hM3M

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** Shares of Canara Bank CNBK.NS rise 3.5% to 96.95 rupees

** Bank's Q4 profit rose 33.1% Y/Y to 50.03 bln rupees ($588.4 mln), beats analysts' estimates of 41.04 bln rupees

** Q4 gross NPA improves to 2.94% from 3.34% in Q3

** CNBK down ~3% YTD

($1 = 85.0290 Indian rupees)

(Reporting by Vijay Malkar)

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April 25 (Reuters) - India's Canara Robeco Asset Management Company, backed by lender Canara Bank CNBK.NS, filed for an initial public offering, draft papers showed on Friday.

(Reporting by Ananta Agarwal in Bengaluru; Editing by Mrigank Dhaniwala)

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April 11 (Reuters) - Canara Bank Ltd CNBK.NS:

• CANARA BANK LTD - AMIT MITTAL APPOINTED AS GROUP CHIEF FINANCIAL OFFICER

Source text: ID:nBSE5S2Js6

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March 18 (Reuters) - Canara Bank Ltd CNBK.NS:

• CANARA BANK - 532483 - ISSUE OF TIER II BONDS

• CANARA BANK- RAISED 40 BILLION RUPEES VIA TIER II BONDS

Source text: ID:nBSEKyK9r

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By Dharamraj Dhutia

MUMBAI, March 17 (Reuters) - Indian investor appetite is set to be tested in the run-up to the end of the financial year as companies line up $3 billion of bond issuances over two days, adding to an already heavy pipeline of debt.

State-run firms, including REC RECM.NS, NTPC NTPC.NS and Canara Bank CNBK.NS, are set to raise 140 billion rupees ($1.61 billion) on Monday and Tuesday, while non-banking financial companies (NBFC) may issue much as 164 billion rupees, above the threshold of 100 billion rupees per week.

India's financial year runs from April to March.

"The supply overhang remains significant, with a heavy pipeline of state development loans crowding the market, said Venkatakrishnan Srinivasan, founder and managing partner at debt advisory firm Rockfort Fincap.

"Credit spreads may face pressure as institutional investors push back on pricing, demanding a higher premium to compensate for the liquidity crunch and supply glut," he added.

Indian states will raise over 401 billion rupees through a debt sale on Tuesday, followed by 540 billion rupees of issuances next week, as per schedule.

The supply is unlikely to be fully absorbed and yields on these bonds are expected to rise further, traders have said, especially as banking system liquidity remains in a deficit, which could widen amid tax outflows this week.

The deficit was around 2 trillion rupees, as of March 16, with the shortfall persisting for the last three months.

Corporate bond issuances had moderated due to a liquidity crunch but the central bank's liquidity measures have helped NBFCs - which have been under pressure for the last few months - to raise capital from the debt market, said Suresh Darak, founder of Bondbazaar, an online bond trading platform.

He anticipates limited impact on high-rated corporate bonds.

"Given that most provident and pension funds have likely exhausted their allocations for the fiscal year, the absorption capacity for this supply could be constrained," Rockfort Fincap's Srinivasan said.

He expects that NBFCs with aggressive loan book growth may be forced to price their bonds at a modest concession to ensure full subscription, and of the total supply, around 200 billion rupees of debt could find takers.

($1 = 86.8350 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Sonia Cheema)

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MUMBAI, March 12 (Reuters) - India's Canara Bank CNBK.NS plans to raise 40 billion rupees ($458 million), including a greenshoe option of 30 billion rupees, through sale of Basel III compliant tier II bonds maturing in 10 years, three merchant bankers said on Wednesday.

The state-run lender has invited coupon and commitment bids from bankers and investors on Monday, they said.

The bonds have a call option at the end of five years.

The lender did not immediately reply to a Reuters email seeking comment.

Here is the list of deals reported so far on March 12

*Size includes base plus greenshoe for some issues

($1 = 87.2430 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala; Editing by Mrigank Dhaniwala)

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Feb 11 (Reuters) - Canara Bank Ltd CNBK.NS:

• ONE YEAR MCLR REMAINS UNCHANGED AT 9.10%

Source text: ID:nBSE6zQfk

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Jan 27 (Reuters) - Canara Bank Ltd CNBK.NS:

• CANARA BANK - Q3 NIM AT 2.71%

Source text: ID:nNSE7F4lWF

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Dec 10 (Reuters) - Canara Bank Ltd CNBK.NS:

• ONE YEAR MCLR REVISED TO 9.10% EFFECTIVE DEC 12

Source text: [ID:]

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Dec 5 (Reuters) - Canara Bank Ltd CNBK.NS:

• RBI ACCORDED APPROVAL FOR DIVESTING STAKE IN CANARA ROBECO ASSET MANAGEMENT

• RBI ACCORDED APPROVAL FOR DIVESTING STAKE IN CANARA HSBC LIFE INSURANCE

• DIVESTING STAKE IN CANARA ROBECO AMC, CANARA HSBC LIFE INSURANCE VIA IPO

• RBI APPROVAL TO DIVEST 13% STAKE OF CO IN CANARA ROBECO ASSET MANAGEMENT

• RBI SAYS BANK SHOULD ADHERE TO OCTOBER 31, 2029 TIMELINE FOR BRINGING STAKE UP TO 30%

• RBI APPROVAL TO DIVEST 14.5% STAKE OF CO IN CANARA HSBC LIFE INSURANCE

• POST RBI APPROVAL, CO WILL INITIATE PROCESS OF IPO

Source text: ID:nNSE1DqBVY

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Moves position of 'to India' in paragraph 7, no other changes

By Rishika Sadam and Siddhi Nayak

Nov 28 (Reuters) - Indian banks are reviewing their Adani exposure and whether they need to tighten due diligence, eight bankers said on Thursday, after the group's billionaire founder Gautam Adani was indicted by U.S. authorities over an alleged $265 million bribery scheme.

Adani Group's listed stocks, which at one point saw as much as $34 billion wiped off their market value, meanwhile recovered ground as some partners and investors rallied behind it.

State Bank of India SBI.NS will not stop lending to ongoing Adani projects that are nearing completion, two sources told Reuters, but will exercise caution when disbursing loans to ensure all terms and conditions are being met.

Bank of India BOI.NS, Union Bank UNBK.NS, ICICI Bank ICBK.NS, Canara Bank CNBK.NS, IDBI Bank IDBI.NS and RBL Bank RATB.NS, which have relatively smaller exposures to the Adani Group, are undertaking similar exercises, sources said.

A regulatory source aware of the development said from a banking system perspective that no entity was over-exposed to the Adani group and there was no cause for concern.

Earlier on Thursday, Israel said it wants Adani Group to continue to invest there, adding that the U.S. allegations were not "problematic" from its perspective.

"We wish Adani and all Indian companies continue to invest in Israel," Israel's Ambassador to India Reuven Azar told Reuters in an interview.

The Adani Group holds a 70% stake in Haifa port in northern Israel and is involved in projects with Israeli firms, including manufacturing military drones and commercial semiconductors.

Adani and seven others are accused by U.S. authorities of being part of a scheme to pay bribes to secure Indian power supply contracts. The Adani Group has denied the allegations.

The Indian ports-to-power conglomerate has also received public backing from Abu Dhabi's International Holding IHC.AD, which maintained its outlook on investments in the group.

"Our partnership with the Adani Group reflects our confidence in their contributions to the green energy and sustainability sectors," IHC said on Wednesday, adding that it "continues to evaluate relevant information and developments".

IHC, which is one of Adani's key foreign investors, boosted its stake in the group's Adani Enterprises ADEL.NS flagship to more than 5% last year after selling down investments in Adani Green Energy ADNA.NS and Adani Energy Solutions ADAI.NS.

Shares in Adani Green, the company at the centre of the bribery allegations, rose by 10% on Thursday, hitting the cap on gains in a single session for a second consecutive day, with Adani Energy also up the maximum 10%.

The total losses in the value of Adani Group's 10 listed companies have narrowed to $14.5 billion from about $34 billion, the low reached on Tuesday after the U.S. indictments.

FALLOUT

Global investors say worries of a wider spillover from the Adani allegations will hurt sentiment in India, but not the long-term outlook, as they wager one of the world's best-performing markets will get back on track next year.

Investors expect a stronger spotlight on governance and disclosure, and perhaps some volatility, but say the affair has not challenged the reasons they are in India in the first place - for exposure to a growing economy and a huge consumer market.

Indian Prime Minister Narendra Modi's government has not commented on the allegations against the Adani Group and has blocked opposition party demands for a debate on them.

Both houses of India's parliament were suspended temporarily within minutes of opening on Thursday as opposition lawmakers disrupted proceedings for the third day over the issue.

Many opposition parties accuse Modi and his Bharatiya Janata Party (BJP) of favouring Gautam Adani and blocking investigations against him, charges which both have denied.

The Adani Group, which is among India's biggest business empires, has been under scrutiny since January 2023 short seller Hindenburg Research accused it of stock manipulation, which the group has denied, and questioned its high debt levels.

Adani Green said on Wednesday that Adani had been charged by U.S. Securities and Exchange Commission (SEC) for alleged violations of securities law and faced potential fines but had not been charged under the U.S. Foreign Corrupt Practices Act.

The civil action launched by the SEC runs in parallel to U.S. federal prosecutors' indictment against Adani and others.

Repercussions from the indictment have mounted for the Adani Group over the past week, with credit ratings agencies cutting the outlook for some of the listed companies' bonds.

French oil major TotalEnergies TTEF.PA, said on Monday it would not make any more investments in the Adani Group until there was clarity over the allegations and consequences. Total has a 20% stake in Adani Green.

Kenya has scrapped a $2 billion procurement project that was to give Adani control of the country's main airport and it shelved a 30-year, $736-million public-private partnership, signed by Adani Energy with its energy ministry in October.

Closer to home, Sri Lanka said it would investigate all Adani-related projects in the island nation, while Bangladesh is investigating power generation contracts signed under the previous prime minister, one of which was with Adani Power.

(Reporting by Hadeel Al Sayegh in Dubai, Shilpa Jamkhandikar in Mumbai and Nigam Prusty in New Delhi; Writing by Scott Murdoch, Chris Thomas; Editing by Alexander Smith)

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Oct 29 (Reuters) - Canara Bank Ltd CNBK.NS:

• CANARA BANK Q2 NET PROFIT 40.15 BILLION RUPEES; IBES EST. 37.58 BILLION RUPEES

• CANARA BANK Q2 GROSS NPA 3.73%

• CANARA BANK Q2 INTEREST EARNED 297.40 BILLION RUPEES

• CANARA BANK Q2 NET NPA 0.99%

• CANARA BANK Q2 PROVISIONS AND CONTINGENCIES 22.51 BILLION RUPEES

• CANARA BANK Q2 PROVISIONS FOR NPA 25.87 BILLION RUPEES

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Oct 18 (Reuters) - Canara Bank Ltd CNBK.NS:

• APPROVED SALE OF ASSETS AND LIABILITIES OF CANARA BANK TANZANIA TO EXIM BANK TANZANIA

Source text for Eikon: ID:nNSEbr3YbH

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Oct 10 (Reuters) - Canara Bank Ltd CNBK.NS:

• CANARA BANK - ONE YEAR MCLR RAISED TO 9.05% FROM 9%

Source text for Eikon: [ID:]

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Sept 4 (Reuters) - Canara Bank Ltd CNBK.NS:

• ISSUANCE OF US $ 300 MILLION UNSECURED NOTES OF MTN BONDS

• COUPON RATE OF MTN BONDS AT 4.896% TO BE PAID SEMI ANNUALLY

Source text for Eikon: ID:nNSE9ljltF

Further company coverage: CNBK.NS

(Reporting by VijayDattaram Malkar)

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Aug 29 (Reuters) - Canara Bank Ltd CNBK.NS:

• ISSUE OF AT1 BONDS

• RAISED 30 BILLION RUPEES BASEL III COMPLIANT ADDITIONAL TIER 1 BONDS

Source text for Eikon: ID:nBSE7FmHZf

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MUMBAI, Aug 27 (Reuters) - India's Canara Bank CNBK.NS has accepted bids aggregating to 30 billion rupees ($357.5 million) for its additional tier-I perpetual bonds, three merchant bankers said on Tuesday.

The state-run lender had invited coupon and commitment bids from bankers and investors earlier in the day.

The bonds have a call option at end of 10 years. In February, Canara Bank raised 20 billion rupees via a perpetual bond issue at an 8.40% coupon.

Here is the list of deals reported so far on Aug. 27:

* Size includes base plus greenshoe for some issues

($1 = 83.9110 Indian rupees)

(Reporting by Bhakti Tambe and Dharamraj Dhutia; Editing by Sonia Cheema)

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MUMBAI, Aug 23 (Reuters) - India's Canara Bank CNBK.NS plans to raise 30 billion rupees ($357.66 million), including a greenshoe option of 20 billion rupees, through the sale of additional tier-I perpetual bonds, three merchant bankers said on Friday.

The state-run lender has invited coupon and commitment bids from bankers and investors on Tuesday, they said.

The issue will have a call option at end of 10 years. In February, Canara Bank raised 20 billion rupees via a perpetual bond issue at the 8.40% coupon.

Last week, Reuters reported lenders may start tapping this route to raise funds after India eased norms for how mutual funds value perpetual bonds.

Here is the list of deals reported so far on Aug. 23

*Size includes base plus greenshoe for some issues

($1 = 83.8780 Indian rupees)

(Reporting by Dharamraj Dhutia and Bhakti Tambe; Editing by Nivedita Bhattacharjee)

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MUMBAI, Aug 21 (Reuters) - India's Canara Bank CNBK.NS is set to kickstart the cycle of perpetual bond issue for the current financial year, as it plans to come up with an issue by end of this month, three merchant bankers said on Wednesday.

The state-run lender could raise around 40 billion rupees ($477.37 million) from additional tier I perpetual bonds, with a call option at the end of five years, the bankers added.

In February, Canara Bank raised 20 billion rupees via a perpetual bond issue at the 8.40% coupon.

The bank did not respond to a Reuters query seeking comment.

Last week, Reuters reported lenders may start tapping this route to raise funds after India eased norms for how mutual funds value perpetual bonds.

Here is the list of deals reported so far on Aug. 21:

*Size includes base plus greenshoe for some issues

($1 = 83.7930 Indian rupees)

(Reporting by Dharamraj Dhutia and Bhakti Tambe; Editing by Janane Venkatraman

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Aug 6 (Reuters) - Canara Bank Ltd CNBK.NS:

• GOVERNMENT NOMINATED ROHIT DAS AS RBI NOMINEE DIRECTOR

Source text for Eikon: ID:nBSE8y2kPy

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July 25 (Reuters) - Canara Bank Ltd CNBK.NS:

• Q1 NET PROFIT 39.05 BILLION RUPEES; IBES EST. 39.28 BILLION RUPEES

• Q1 GROSS NPA 4.14%

• Q1 NET NPA 1.24%

• Q1 INTEREST EARNED 287.01 BILLION RUPEES

• Q1 PROVISIONS AND CONTINGENCIES 22.82 BILLION RUPEES

• Q1 PROVISIONS FOR NPA 21.71 BILLION RUPEES

Further company coverage: CNBK.NS

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MUMBAI, July 16 (Reuters) - India's Canara Bank CNBK.NS has accepted bids aggregating to 100 billion rupees ($1.20 billion) for infrastructure bonds maturing in 10 years, three bankers said on Tuesday.

The state-run lender had invited coupon and commitment bids from bankers and investors earlier in the day.

Here is the list of deals reported so far on July 16:

*Size includes base plus greenshoe for some issues

($1 = 83.5814 Indian rupees)

(Reporting by Bhaki Tambe and Dharamraj Dhutia; Editing by Varun H K)

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By Dharamraj Dhutia and Bhakti Tambe

MUMBAI, July 12 (Reuters) - Indian banks are set to raise around 400 billion rupees ($4.79 billion) through infrastructure bonds in July and August, potentially setting a record for the second consecutive year, according to five merchant bankers on Friday.

If successful, funds raised via these bonds in the first five months of the current fiscal year started in April will surpass the 544 billion rupees raised in fiscal year 2023/24.

Infrastructure bond issues had picked up last year, and the trend will continue as the gap between credit demand and deposit growth continues, said Shameek Ray, head of debt capital markets at ICICI Securities Primary Dealership.

Government spending on infrastructure and a pick-up in investment in sectors like steel, roads and renewable energy is generating demand for funds, said Arnab Choudhury, head of debt capital markets at SBI Capital Markets.

Infrastructure bonds are issued to finance long-term development projects.

Canara Bank CNBK.NS and Bank of Baroda BOB.NS are likely to raise 100 billion rupees each, while Bank of India BOI.NS is expected to raise 50 billion rupees, three of the bankers said.

HDFC Bank HDBK.NS, India's biggest private bank, is also in early talks to raise around 100-150 billion rupees, they added.

None of the banks responded to Reuters' request for confirmation.

So far this fiscal year, State Bank of India SBI.NS has raised 200 billion rupees, and ICICI Bank ICBK.NS has raised 30 billion rupees through these bonds.

Investor appetite for long-duration infrastructure bonds could spur more issuances in the coming months, Choudhury said.

According to the interim budget announced in February, the federal government plans to spend over 11 trillion rupees this fiscal year on long-term infrastructure projects to stimulate growth and create jobs.

"These bonds are seeing strong demand from insurance companies and provident funds, as it allows them diversification and meets their need for increasing portfolio duration," Ray said.

The strong demand has also helped reduce the spread sought by investors over government securities, he added.

($1 = 83.5250 Indian rupees)

(Reporting by Dharamraj Dhutia and Bhakti Tambe; Editing by Varun H K)

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July 11 (Reuters) - Canara Bank Ltd CNBK.NS:

• REVISES ONE YEAR MCLR TO 8.95% FROM 8.90%, EFFECTIVE JULY 12

Source text for Eikon: ID:nBSE51h6zX

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MUMBAI, June 20 (Reuters) - India's Canara Bank CNBK.NS is likely to raise around 20 billion rupees ($239.73 million) through the sale of infrastructure bonds maturing in 10 years, three bankers said on Thursday.

It is likely to invite coupon and commitment bids for the issue in the next two weeks, they said.

The state-run lender did not comment to an email query from Reuters.

In February, it had raised 20 billion rupees through the sale of perpetual bonds, with a call option at the end of five years, at 8.40% coupon.

Here is the list of deals reported so far on June 20:

*Size includes base plus greenshoe for some issues

($1 = 83.4260 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Sohini Goswami)

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BENGALURU, June 11 (Reuters) - State Bank of India SBI.NS, the country's largest lender, said on Tuesday that its board has approved raising up to $3 billion via debt in the current financial year.

The state-run lender will raise the funds in one or more tranches through a public offer or a private placement of senior unsecured notes, which will be denominated in U.S. dollars or another major foreign currency, it said.

The Mumbai-based lender did not mention what the proceeds will be used for.

Indian banks are shoring up their capital base to meet the rising demand for loans.

Several state run-lenders, including Canara Bank CNBK.NS, Punjab and Sind Bank PUNA.NS and Punjab National Bank PNBK.NS, plan to raise funds via debt this fiscal year.

In January, SBI raised 50 billion rupees (about $600 million) by selling Basel III-compliant additional tier-I perpetual bonds.

The lender is also open to raising equity capital to support growth, Chairman Dinesh Kumar Khara said last month.

SBI's shares were up 0.8% on Tuesday and have gained 30.5% so far this year.

($1 = 83.4950 Indian rupees)

(Reporting by Navamya Ganesh Acharya in Bengaluru; Editing by Sonia Cheema)

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May 31 (Reuters) - Canara Bank Ltd CNBK.NS:

• CANARA BANK LTD - ACCORDED APPROVAL FOR INITIATING PROCESS OF DILUTING 14.50% STAKE OF BANK IN UNIT

• CANARA BANK LTD - APPROVAL FOR DILUTING STAKE IN CANARA HSBC LIFE INSURANCE CO BY LISTING CO IN STOCK EXCHANGES THROUGH IPO

Source text for Eikon: ID:nBSE2cmBCY

Further company coverage: CNBK.NS

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