<p>Canara Bank plans to raise up to $1 billion (about Rs 5,487 crore) through bonds this month from the overseas market to fund global business expansion.<br /><br /></p>.<p>“We are planning to raise $750 million to $1 billion through medium-term note (MTN) programme this month,” Canara Bank CMD R K Dubey said.<br /><br />The funds raised would be utilised for growth of overseas business of the bank, he said.<br />Currently, the bank has five overseas branches at London, Leicester, Shanghai, Manama and Hong Kong. As part of its global expansion plan, the bank intends to open branches at 9 nine overseas destinations.<br /><br />Tthe bank has already got licence for opening a branch at Johannesburg in South Africa.</p>
<p>Canara Bank plans to raise up to $1 billion (about Rs 5,487 crore) through bonds this month from the overseas market to fund global business expansion.<br /><br /></p>.<p>“We are planning to raise $750 million to $1 billion through medium-term note (MTN) programme this month,” Canara Bank CMD R K Dubey said.<br /><br />The funds raised would be utilised for growth of overseas business of the bank, he said.<br />Currently, the bank has five overseas branches at London, Leicester, Shanghai, Manama and Hong Kong. As part of its global expansion plan, the bank intends to open branches at 9 nine overseas destinations.<br /><br />Tthe bank has already got licence for opening a branch at Johannesburg in South Africa.</p>