MUMBAI, May 28: State-owned Canara Bank’s Board of Directors would meet this week to consider and approve capital raising plan for the financial year 2024-25.
“Board of Directors of the Bank is scheduled to be held on Friday, 31st May 2024, at its Head Office, Bengaluru inter-alia to consider and approve the capital raising plan of the Bank for the financial year 2024-25,” the public sector bank said in a stock exchange filing on Tuesday.
Canara Bank had earlier this month reported 18.34% year-on-year rise in standalone net profit at Rs 3,757.23 crore for January-March quarter (Q4) of financial year 2023-24.
The Board of Directors of the bank had recommended a dividend of Rs 16.10 per equity share (161% of face value of Rs 10 per share) for the year ended on March 31, 2024 subject to requisite approvals.
Net Non-Performing Assets (NNPA) ratio of the bank declined to 1.27% as at March 2024, down from 1.32% as at December 2023. (UNI)
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