Canara Bank may look to divest another 22 per cent of government stake during the next round of capital restructuring that is likely to take place by the end of the current year, its Chairman and Managing Director R V Shastri said on Monday.

The bank is also planning to open representative offices in Dubai and Shanghai and has approached the Reserve Bank of India for licences.

"We do not have any immediate plan to raise fresh funds either through Tier-I or Tier-II as our current capital adequacy ratio is quite comfortable at 12.6 per cent. We will think of another round of capital restructuring at the end of this year," Shastri told reporters after addressing a Banking Conclave organised by the Federation of Indian Chamber of Commerce and Industries and Indian Chamber of Commerce in Kolkata.

Asked by when the divestment of 22 per cent of government stake would be taken up, the CMD said there was no plan as of now, but it would be taken up during the next round of capital restructuring.

About plans for opening branches abroad, Shastri said, "We have already applied for licence to RBI for opening representative offices in Dubai and Shanghai."

In addition, the bank was expecting its full fledged branch in Moscow to be operational within the next one or two months. "The Moscow office is almost ready...only the inauguration is due."

Canara Bank and State Bank of India had decided to merge their representative offices at Moscow into one full-fledged branch under a 40:60 joint venture renamed as Commercial Bank of India.