Canara Bank Results Are Out: Rise in the New Profits?

Canara Bank Results: Quarter three outcomes are an eventful affair for many organizations. However, a large group of investors always waits for the outcomes of the banks. Canara Bank results were highly awaited by the investors, and here they are. Let’s check all the key details of Canara Bank’s results with a brief look at the company and its timeline that is full of major milestones.

About & Timeline of Canara Bank

Canara Bank, noted for its customer-centricity, was formed in July 1906 by Mr. Ammembal Subba Rao, a remarkable thinker and philanthropist, in Mangalore, then a tiny port town in Karnataka. Throughout its hundred-year history, the bank has gone through numerous stages of its growth trajectory.

• 1969: Canara Bank’s growth was tremendous as it envisioned becoming the best in the world, particularly after nationalization in 1969, when it achieved the status of a national-level operator in various categories of customers.
• 1980: The bank’s commercial diversification during the 1980s was notable.
• 2006: The bank celebrated a century in the Indian financial sector in June 2006.

Canara Bank Results: Key Highlights

Following are the key points from Canara Bank Results:

• Canara Bank’s asset quality improved, with the GNPA (Gross Non-Performing Assets) ratio falling by 105 basis points year on year to 3.34%.
• The global deposits of the bank reached ₹13,69,465 Cr, up 8.44%.
• The operating profit of the bank was reported at ₹7,837 Cr, up 15.15%.
• The global business of the bank reached ₹24,19,171 Cr, up 9.30%.
• The fee base income of the bank reached ₹2,185 Cr, up 23.31%.
• The RAM Credit of the bank also increased by 12.32%.
• The gross advances of the bank were reported as ₹10,49,706 Cr, up 10.45%.
• The retail credit of the bank increased by 35.46%, with housing loans up 12.26% and vehicle loans up 17.26%.
• The NPA (net) ratio of the bank was 0.89%, a decrease of 43 basis points year on year.
• The slippage ratio of the bank also decreased 28 basis points year on year to 0.96%.
• The annualized credit cost of the bank’s lender was 0.77% for the 17th quarter, down from 1.05% the previous quarter.
• The PCR (Provision Coverage Ratio) of the bank improved by 225 basis points, reaching 91.26%.
• The bank’s interest income increased to Rs 30,311.61 crore, up from Rs 28,038.83 crore the previous year.

Final Verdict

Canara Bank results have lately shown outstanding financial performance in Q3 FY25, with an emphasis on loan recovery. The bank has also paid out dividends and continues to engage in digital projects to improve its efficiency as well as customer experience.

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