Canara Bank (CANBK) — Financial Results

Canara Bank reported record profitability with net profit rising 12.25% YoY to ₹4,104 crores in Q3 FY2024-25, driven by strong credit growth and improved asset quality. Gross NPA fell to 3.34% and net NPA to 0.89%, while PCR hit an all-time high of 91.26%. Operating profit grew 15.15% to ₹7,837 crores, and fee-based income increased 23.31% to ₹2,185 crores. The bank achieved 9 of 13 March guidance parameters within nine months and maintained a 76.5% CD ratio below the 78% target. Deposit growth of 8.44% and advance growth of 10.45% supported business expansion, with targeted 10% growth underway. Treasury gains from HTM securities sales and robust recovery trends, including ₹3,600 crores in December quarter recoveries, underpin a positive outlook. The bank plans to open 250-300 new branches annually to drive CASA growth and maintain disciplined expense management at 6-7% annual growth.

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About Canara Bank (CANBK)

Financial Services · Banks · Listed on NSE

Market Cap: ₹1,16,167.83 Cr P/E: 6.8

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