Canara Bank on Wednesday reported its third quarter profit at Rs 3738.26 crore, up 27.9 per cent in comparison to Rs 2923.16 crore during the corresponding quarter of last year. The bank’s Net Interest Income stood at Rs 9,417 crore, up 9.50 per cent on-year. The Net Interest Margin, meanwhile, stood at 3.02 per cent improved by 9 bps.
The Bank’s Gross Non-Performing Assets (GNPA) ratio stood at 4.39 per cent as at December 2023 as against 5.89 per cent recorded during the same quarter last year. The Net Non-Performing Assets (NNPA) ratio stood at 1.32 per cent as at December 2023 as against 1.96 per cent last year. The Provision Coverage Ratio (PCR) improved to 89.01 per cent as at December 2023 from 86.32 per cent as at December 2022.
Canara Bank’s global business increased by 9.87 per cent on-year to Rs 22,13,360 crore as at December 2023 with global deposits at Rs 12,62,930 crore and Global Advance (gross) at Rs 9,50,430 crore. Domestic deposits, meanwhile, stood at Rs 11,66,848 crore as at December 2023 with growth of 8.07 per cent on-year. Domestic Advances (gross) of the Bank stood at Rs 9,01,465 crore as at December 2023, up 12.56 per cent on-year.
Canara Bank’s retail lending portfolio increased to Rs 1,53,640 crore, up 12.14 per cent, and the housing loan portfolio increased by 12.07 per cent to Rs 91,800 crore. Advances to agriculture & allied activities grew by 19.26 per cent to Rs 2,42,470 crore as of December 2023.
As on 31.12.2023, the Bank has 9585 number of branches, out of which 3095 are rural,2742 semi urban,1906 urban and 1842 metro along with 10463 ATMs. It also has 3 overseas branches in London, New York & Dubai.