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.

Raccontata daeconomictimes.indiatimes.com