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Canara Bank to raise Rs.8,000-Cr

Economic Times  

Canara Bank plans to frontload the entire impact of expected credit loss (ECL) provisioning within the first two years of the new regulatory regime, which is set to commence on April 1, 2027. The ECL framework represents a shift toward forward-looking accounting practices for credit losses. To support this transition and bolster growth, the bank plans to raise INR 8,000-Cr in capital.The bank has revised its provisioning projections upward to a range of INR 12,000-Cr to INR 13,000-Cr, compared to an earlier estimate of INR 10,000-Cr. The bank maintains a capital adequacy ratio of 17.17% as of the end of June.