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Informist, Monday, May 11, 2026

 

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--Canara Bank Jan-Mar net profit INR 45.06 bln 
--Analysts saw Canara Bank Jan-Mar net profit INR 44.02 bln 
--Canara Bank Jan-Mar net profit INR 45.06 bln vs INR 50.03 bln year ago 
--Canara Bank Jan-Mar total income INR 366.62 bln vs INR 373.53 bln year ago 
--Canara Bank to pay INR 4.20 per share dividend 
--Canara Bank Jan-Mar provisions INR 9.92 bln vs INR 18.32 bln year ago 
--Canara Bank Jan-Mar NPA provisions INR 13.12 bln vs INR 28.47 bln year ago 
--Canara Bank gross NPA ratio 1.84% on Mar 31 vs 2.08% qtr ago
--Canara Bank net NPA ratio 0.43% on Mar 31 vs 0.45% qtr ago 
--Canara Bank Basel III capital adequacy ratio 17.04% on Mar 31 
--Canara Bank FY26 net profit INR 191.87 bln vs INR 170.27 bln year ago 
--Canara Bank FY26 total income INR 1.53 tln vs INR 1.42 tln year ago 
--Canara Bank provision coverage ratio 94.21% on Mar 31 
--Canara Bank Jan-Mar net interest margin 2.54% vs 2.45% qtr ago 
--Canara Bank Jan-Mar net interest income INR 98.08 bln, up 3.9% on year 
--Canara Bank global gross advances INR 12.38 tln on Mar 31, up 15.3% on yr 
--Canara Bank global deposits INR 15.69 tln on Mar 31, up 9.7% on yr 
--Canara Bank global credit-deposit ratio at 78.89% on Mar 31 
--Canara Bank Jan-Mar annualised credit cost 0.59% vs 0.64% qtr ago 
--Canara Bank Jan-Mar fresh slippages INR 27.71 bln vs INR 26.55 bln yr ago
--Canara Bank Jan-Mar loan write-offs INR 37.71 bln vs INR 50.22 bln year ago 
--Canara Bank expects FY27 global NIM at 2.5%-2.6% 
--Canara Bank expects FY27 global advances to rise 11-12% 
--Canara Bank expects FY27 global deposits to rise 9-10% 
--Canara Bank expects FY27 global credit cost at 0.75% 
--Canara Bank Jan-Mar cost of deposits 5.54% vs 5.62% qtr ago 
--Canara Bank Jan-Mar yield on advances 8.29% vs 8.34% qtr ago 
--Canara Bank dividend record date is Jun 12 

 

By Vaishali Tyagi

 

NEW DELHI – Canara Bank's net profit for the March quarter declined due to a fall in other income. The state-owned lender's bottom line was broadly in line with Street estimates. Higher operating expenditure also weighed on bank's net profit for the quarter. 

 

The lender's net profit for the March quarter was INR 45.06 billion, down nearly 10% on year. Sequentially, it fell nearly 13%. Analysts had estimated the bank's bottom line at INR 44.02 billion. The bank's other income for the reporting quarter fell significantly to INR 48.24 billion, down over 24% on year. It slipped nearly 39% on quarter.

 

A sharp drop in other income dragged the bank's total income down to INR 366.62 billion in the March quarter from INR 373.52 billion a year ago. Sequentially, the total income fell over 8%. However, bank's interest income rose nearly 3% on year to INR 318.38 billion.

 

The lender's operating expenditure rose nearly 5% on year to INR 78.75 billion in the March quarter. However, it fell nearly 2% on quarter. Of these, interest expenses grew about 2% on year to INR 220.30 billion. 

 

The bank announced dividend of INR 4.20 per share and set Jun. 12 as the record date. At 1405 IST, its shares were trading over 3% lower at INR 130.15 on the National Stock Exchange. 

 

A sharp fall in provisions and contingencies limited the fall in bank's net profit in Jan-Mar. They fell around 46% on year to INR 9.92 billion from INR 18.32 billion reported in the corresponding quarter a year ago. On a quarterly basis, they fell about 59%. Of these, provisions for non-performing assets declined to 13.12 billion from INR 28.47 billion a year ago. 

 

The bank's gross non-performing assets ratio fell to 1.84% as of Mar. 31 from 2.08% as of Dec. 31 and 2.94% a year ago. The net non-performing assets ratio of the bank improved to 0.43% from 0.45% at the end of December. The net non-performing assets ratio was 0.70% as of Mar. 31, 2025. 

 

The bank's Basel-III capital adequacy ratio was 17.04% as on Mar. 31, higher than 16.33% reported a year ago and 16.50% a quarter ago. For 2025-26 (Apr-Mar), Canara Bank reported a net profit of INR 191.87 billion, up from INR 170.27 billion reported a year ago. Total income for FY26 grew nearly 8% on year to INR 1.53 trillion. 

 

The public sector bank's fresh slippages fell to INR 27.71 billion in the reporting quarter from INR 26.55 billion a quarter ago, taking the slippage ratio to 0.24% from 0.26% a year ago. The provision coverage ratio was 94.21% as of Mar. 31, higher than 92.70% a year ago.  

 

The state-owned lender's net interest income for the quarter was INR 98.08 billion, up 3.9% on year. It was 92.52 billion in Oct-Dec. The bank's net interest margin grew to 2.54% in the March quarter from 2.45% in the Oct-Dec quarter. In Jan-Mar 2025, the bank's margin was 2.73%.

 

The bank wrote off loans worth INR 37.71 billion in Jan-Mar, lower than INR 50.22 billion a year ago quarter. On the bank's business front, global business rose over 12% to INR 28.06 trillion. Its global advances rose over 15% on year to INR 12.38 trillion, while global deposits were up nearly 10% on year at INR 15.69 trillion. Of total global advances, banks retail, agriculture, and micro, small, and medium enterprises rose nearly 20% on year to INR 7.31 trillion. 

 

The bank's credit-deposit ratio rose to 78.89% from 78.38% as on Dec. 31. The bank's annualised credit cost fell to 0.59% in the reporting quarter from 0.64% a quarter ago. The bank's cost of deposits fell to 5.54% from 5.62% a quarter ago and its yield on advances declined to 8.29% from 8.34% reported in the December quarter.

 

Going forward, the bank expects its global net interest margin to remain steady and in the range of 2.5-2.6% in the year ending Mar. 31. For FY27, the lender expects its global advances to rise 11-12%, and global deposits to rise 9-10%. Canara Bank expects its global credit cost at 0.75% for FY27.  End

 

Edited by Avishek Dutta

 

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