Canara Bank has officially announced the completion of tenure of its Managing Director & Chief Executive Officer, Shri K. Satyanarayana Raju, effective December 31, 2025. The leadership transition occurred due to superannuation, marking the end of Raju's tenure at the helm of the public sector bank.

Leadership Transition Details

The bank informed stock exchanges about this significant corporate development through an official communication dated December 31, 2025. The announcement was made in strict compliance with Regulation 30 of SEBI (LODR) Regulations, 2015, which mandates disclosure of material events and information.

Regulatory Framework

The leadership change follows the Department of Financial Services, Ministry of Finance, Government of India Notification No. eF.no. 4/6/2021-B.O.I, dated February 7, 2023. This notification established the framework governing the tenure and superannuation of senior executives in public sector banks.

Shri K. Satyanarayana Raju ceased to be the Managing Director & Chief Executive Officer of Canara Bank at the close of business hours on December 31, 2025, upon attaining the prescribed superannuation age as per government guidelines.

Corporate Governance Compliance

The announcement demonstrates Canara Bank's commitment to maintaining transparency and adhering to corporate governance standards. The disclosure was signed by Santosh Kumar Barik, Company Secretary, ensuring proper authorization and documentation of this material corporate event.

The bank's communication to stock exchanges ensures that all stakeholders, including investors, regulators, and market participants, are informed about this leadership transition in a timely and transparent manner as required under securities regulations.

Canara Bank has successfully completed the annual interest payment and full redemption of its Basel III Compliant Additional Tier I Bonds, totaling ₹1,773.98 crores on December 31, 2025. The bank made the payments on the scheduled due date through various electronic modes including RTGS, NEFT, IBA, and demand draft to bondholders' bank accounts.

Bond Payment Details

The total payment comprised two components: annual interest payment of ₹138.98 crores and full redemption amount of ₹1,635.00 crores for the unsecured, non-convertible, perpetual, subordinated Basel III Compliant Additional Tier I Bonds carrying ISIN number INE476A08100.

Interest Payment Specifications

The annual interest payment was processed according to the bond terms with a record date of December 16, 2025. The bank maintained its annual payment frequency as originally structured, with no changes to the payment schedule.

Bond Redemption Process

The bonds underwent full redemption through call option on December 31, 2025. A total of 16,350 non-convertible debentures were redeemed, representing the complete outstanding issue. The redemption was processed through call option for these perpetual bonds, with no outstanding amount remaining after the payment.

Special Payment Consideration

The bank noted that payment towards one investor has been kept on hold as per freeze order Ref No ECIR/BGZO/25/2025 dated November 21, 2025, issued by the Enforcement Directorate against the investor. All other bondholders received their payments as scheduled.

Regulatory Compliance

The payment confirmation was issued in compliance with Regulation 57 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. The bank notified the exchanges about the timely completion of both interest and redemption payments, ensuring full transparency and regulatory adherence.

With the successful completion of this payment, Canara Bank has fulfilled all obligations related to these Basel III Compliant Additional Tier I Bonds, marking the end of this debt instrument's lifecycle.