Canara Bank reported a 52.18 per cent drop in profits to ₹229 crore in the first quarter of this fiscal (FY17) against ₹478.84 crore in the same period last year.

The bank’s total income in Q1 fell 4.21 per cent to ₹11,736.35 crore from ₹12,252.64 crore in the year-ago quarter. EPS (basic) of the bank stood at ₹4.22 (last year ₹9.63).

In the first quarter, the bank made a cash recovery of ₹918 crore. Its outstanding restructured portfolio, at ₹23,407 crore, constituted 7.03 per cent of gross advances.

Net interest income (NII) fell 8.31 per cent to ₹2,307 crore (₹2,516 crore in in the year-ago quarter).

Net interest margin (domestic) stood at 2.29 per cent and NIM (global), at 2.15 per cent.

Gross Non-performing assets (NPAs) climbed to 9.71 per cent from 3.98 per cent last year, and net NPAs to 6.69 per cent from 2.74 per cent.

Canara Bank made a provision of ₹335 crore, being 15 per cent of the outstanding food credit availed by the Punjab government as at March 31, 2016.

Current account and savings account (CASA) deposits increased to ₹1,28,270 crore, logging a year-on-year growth of 16.95 per cent.

The share of CASA (domestic) deposits improved to 29.27 per cent from 24.62 a year ago. Retail term deposits climbed 17.7 per cent y-o-y. The share of retail term deposits in term deposits increased to 60.7 per cent (48.4 per cent last year).

Capital Adequacy Ratio (CAR) improved to 12.11 per cent, from 10.75 per cent a year ago. The bank’s global business touched ₹7.86-lakh crore, comprising global deposits of ₹4.65-lakh crore and net advances of ₹3.21-lakh crore.

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