Canara Bank, the public sector lender, announced to raise additional capital of Rs 24 billion through issue tier-II bonds by way of private placement.

The said bonds will raised at a coupon rate as decided by the bond committee of the bank to support the asset growth during 2015-16 & also to maintain healthy level of Capital to Risk (Weighted) Assets ratio.

Earlier, the bank reported a fall of 15.63% in second quarter of fiscal 2015. The bank reported a profit of Rs 5.28 billion for the quarter ended Sep. 30, 2015, compared with Rs 6.26 billion, a year ago.

Shares of the bank declined Rs 0.25, or 0.09%, to trade at Rs 269.85. The total volume of shares traded was 112,640 at the BSE (12.35 p.m., Friday).