Canara Bank has announced a significant upward revision in its credit growth target, raising it to 13.5% from the previously announced 10.5%. This adjustment represents a substantial increase of 3 percentage points in the bank's growth projections.

Credit Growth Target Revision

The public sector lender's decision to revise its credit growth target upwards indicates improved business confidence and market conditions. The bank has moved from a more conservative growth estimate to a more ambitious target, suggesting enhanced opportunities in the lending market.

Strategic Implications

This upward revision in credit growth targets reflects the bank's assessment of improved market dynamics and its enhanced capacity to expand lending operations. Such revisions are typically based on factors including:

• Improved demand for credit across various sectors
• Enhanced risk assessment capabilities
• Stronger capital position enabling increased lending
• Favorable market conditions supporting loan growth

The revised target of 13.5% positions Canara Bank for more aggressive expansion in its lending portfolio, indicating management's confidence in achieving higher growth rates than initially projected.

Canara Bank has submitted its quarterly fund utilization disclosure for Q3 FY2025-26, confirming zero deviation in the utilization of funds raised during the quarter ended December 31, 2025. The bank filed the statement in compliance with SEBI (LODR) Regulations 32(1) and 52(7), addressing both equity and debt securities fund utilization requirements.

Fund Raising and Utilization Details

During Q3 FY2025-26, Canara Bank successfully raised funds through the issuance of Basel III Additional Tier 1 bonds. The fund raising details are presented below:

The bank achieved complete utilization of the raised funds, with no deviation from the original intended purposes. The Basel III Additional Tier 1 bonds were issued to strengthen the bank's capital adequacy and support its regulatory capital requirements.

Regulatory Compliance Status

Canara Bank's fund utilization statement demonstrates full compliance with SEBI disclosure requirements. The bank reported the following compliance parameters:

Statement Submission Details

The fund utilization statement was signed by Amit Mittal, General Manager & GCFO, and Santosh Kumar Barik, Company Secretary, on January 29, 2026. The disclosure covers the quarter ended December 31, 2025, and was submitted to both BSE (Scrip Code: 532483) and NSE exchanges.

The bank's transparent reporting of fund utilization reflects its commitment to regulatory compliance and corporate governance standards. The complete utilization of raised funds without any deviation indicates effective capital deployment and adherence to the stated objectives of the fund raising exercise.