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Canara Bank gains after Q2 PAT rises 11% YoY to Rs 4,015 cr

29-Oct-24 14:14 Hrs IST

Net interest income (NII) grew by 4.63% to Rs 9,315 crore in Q2 FY25 as against Rs 8,903 crore posted in Q2 FY24.

Operating profit rose marginally 0.50% to Rs 7,654 crore in Q2 FY25 as compared to Rs 7,616 crore recorded in Q2 FY24.

Provisions amounted to Rs 3,640 crore in Q2 FY25, down 9.23% from Rs 4,010 crore posted in Q2 FY24.

Domestic deposits of the bank stood at Rs 12,38,713 crore as on 30 September 2024, up 8.34% YoY. Domestic advances (gross) grew by 8.64% YoY to Rs 9,54,149 crore as of 30 September 2024.

The bank's CASA deposits rose 5.36% to Rs 3,87,327 crore as on 30 September 2024 as compared to Rs 3,67,614 reported as on 30 September 2023.

The bank's global business stood at Rs 13,47,347 crore as on 30 September 2024, registering a growth of 9.34% YoY.

On the asset quality front, gross non-performing assets (NPAs) ratio improved to 3.73% as at September 2024 reduced from 4.14% as at June 2024, 4.76% as at September 2023.

Net NPA ratio advanced 0.99% as at September 2024 reduced from 1.24% as at June 2024, 1.41% as at September 2023.

Provision coverage ratio (PCR) stood at 90.89% as at September 2024 against 89.22% as at June 2024, 88.73% as at September 2023.

CRAR stood at 16.57% as at 30 September 2024. Out of which tier-I is 14.64%, CET1 is 12% and tier-II is 1.93%.

The bank's return on assets improved to 1.05% for Q2 FY25 against 1.02% for Q2 FY24.

Canara Bank is an Indian public sector bank. As on 30 September 2024, the bank has 9,658 numbers of branches, out of which 3,115 are rural, 2,778 semiurban, 1,918 urban & 1,847 metro along with 9,881 ATMs. The bank is also having 4 overseas branches in London, New York, Dubai and Gift City.

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