Canara Bank rises after Q1 net profit grows 2% YoY
Operating profit increased 1.0% YoY and 27.8% QoQ to Rs 8,636 crore. Net interest income (NII) rose 13.4% YoY and 4.2% QoQ to Rs 10,215 crore.
Provisions declined 0.6% YoY to Rs 3,780 crore, although they increased 67.9% QoQ.
Global business grew 14.4% YoY to Rs 29.05 lakh crore, driven by an 11.6% increase in global deposits to Rs 16.12 lakh crore and a 18.0% rise in global advances to Rs 12.93 lakh crore. Retail, Agriculture and MSME (RAM) credit grew 21.2% YoY, while the retail loan portfolio expanded 35.9% YoY to Rs 3.20 lakh crore. Housing loans increased 17.9% YoY, while vehicle loans grew 26.3% YoY. Fee income rose 5.4% YoY to Rs 2,342 crore.
Asset quality improved during the quarter. The gross non-performing asset (GNPA) ratio declined to 1.57% from 2.69% a year ago and 1.84% in the previous quarter. The net NPA ratio improved to 0.36% from 0.63% a year ago and 0.43% in Q4 FY26.
Provision Coverage Ratio (PCR) stood to 94.76% as at June 2026 against 94.21% as at March 2026, 93.17% as at June 2025.
Credit Cost stood at 0.49% improving by 23 bps YoY and slippage Ratio stood at 0.60% improving by 20 bps YoY.
The bank's capital adequacy ratio (CRAR) stood at 17.17%, with CET1 at 12.91%. It continued to exceed regulatory targets across priority sector lending, including agriculture, small and marginal farmers, weaker sections and micro enterprises.
As of 30 June 2026, Canara Bank operated 10,131 branches, 11,047 ATMs and recyclers, and four overseas branches located in London, New York, Dubai and GIFT City. As on June 2026, the Government of India held 62.93% stake in the bank.
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