Money & Banking

Canara Bank’s Q1 profit rises 23% at ₹406 crore

Our Bureau Bengaluru | Updated on August 06, 2020 Published on August 05, 2020

Canara Bank has posted a 23.45 per cent rise in profit for first quarter (Q1) of the 2020-21 fiscal at ₹406.24 crore as against ₹329.07 crore posted in the same period last year.

The bank’s total income was also higher by 47 per cent at ₹20,685.91 crore (₹14,062.39 crore). EPS for the quarter stood at ₹2.79 as against ₹4.37 posted last year.

Segment revenues

During the quarter, treasury operations fetched ₹5,622.98 crore (₹3,242.91 crore), retail banking operations got ₹7,851.21 crore (₹4,981.94 crore) and wholesale banking operations fetched ₹7,211.72 crore (₹5,576.17 crore).

Asset quality

The bank’s Net-Interest Income (NII) grew by 21.11 per cent (yoy) to ₹6,096 crore as at Q1. While non interest income stood at ₹2,650 crore with a growth of 10.51 per cent (yoy).

Gross NPA stood at ₹57,525.52 crore (₹39,399.02 crore), net NPA is ₹24,355.23 crore (₹23,149.62 crore) and percentage of gross NPA stood at 8.84 per cent as against 8.77 per cent last year.

Percentage of net NPA stood at 3.95 per cent as against last year’s 5.35 per cent.

Return on assets annualised is 0.16 per cent as against 0.19 per cent recorded last year.

Deposits/advances

Bank’s global business increased by 4.01 per cent (yoy) to ₹15,60,144 crore as at June 2020 with global deposits at ₹9,09,570 crore (4.56 per cent yoy) and global advance (gross) at ₹6,50,574 crore (3.25 per cent yoy).

Domestic deposit of the bank stood at ₹8,69,635 crore as at June 2020 with growth of 7.66 per cent (yoy) and domestic advances (gross) of the bank stood at ₹6,24,172 crore as at June 2020 with growth of 4.72 per cent (yoy).

CRAR of the bank improved to 12.77 per cent as at June 2020 from 12.31 per cent recorded last year, of which Tier-I is 9.29 per cent and Tier-II is 3.48 per cent.

The bank’s Provision Coverage Ratio (PCR) improved significantly by 1020 bps yoy from 68.75 per cent as at June 2019 to 87.95 per cent as at June 2020.

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Published on August 05, 2020
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