Canara Bank to sell 70% stake in subsidiary Canbank Factors for INR 805 mln
This story was originally published at 12:29 IST on 31 August 2026
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NEW DELHI – Canara Bank said its board had approved the sale of the bank's 70% stake in unlisted subsidiary Canbank Factors Ltd. to Vidvedaa Pvt. Ltd. for INR 805 million. The transaction involves the transfer of 100% equity shares of Canbank Factors to Vidvedaa, the bank said in an exchange filing Saturday.
For the June quarter, Canara Bank had posted a net profit of INR 48.56 billion and total income of INR 396.84 billion. At 1134 IST, its shares were trading 2% lower at INR 126 apiece on the National Stock Exchange. End
Reported by Radhika Tiwari
Edited by Himanshi Gupta
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