Canara Bank reported a strong performance in Dec 2023, with a 27 per cent increase in net income to Rs 3,659 crore. The rise was attributed to lower credit costs, higher interest income, and improved asset quality.
"We wish to inform you that Canara Bank has in principle approved to initiate the process of listing its Mutual Fund Subsidiary Canara Robeco Asset Management Company Ltd, in the Stock Exchanges by way of an Initial Public Offer (IPO)," the state-owned lender said in a notification to exchanges.