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Quarterly Results: Canara Bank’s Global Business reached Rs. 1560144 crore

CANARA BANK FINANCIAL RESULTS FOR QUARTER ENDED 30th JUNE’2020

Key Highlights

❖      Domestic Business of the Bank grew by 6.41% (y.o.y) to Rs.1493806 Cr as at June 2020 from Rs.1403823 Cr in corresponding period last year.

❖      CASA Deposits increased by 16.00% (y.o.y) to Rs. 294326 Cr as at June 2020. Domestic CASA share improved (y.o.y) by  244 bps to 33.82% as at June 2020.

❖      Retail term deposit grew by 13.00% (y.o.y) to Rs. 378934 Cr as at June 2020.

❖      Retail Credit stood at Rs. 112079 Cr with Housing loan at Rs. 58243 Cr as at June 2020.

❖      Operating Profit grew by 31.82% to Rs. 4285 Cr during Q1FY21.

❖      Net Profit stood at  Rs. 406 Cr during Q1FY21

❖      Net-Interest Income grew by 21.11% (y.o.y) to Rs. 6096 Cr as at Q1 FY21

❖      Non interest income stood at Rs. 2650 Cr in Q1FY21 with growth of 10.51% (y.o.y).

❖      CRAR (Basel III) stood at 12.77% as at June 2020, increased by 46 bps (y.o.y).

❖      Gross NPA ratio at 8.84%, down by 144 bps (y.o.y) while Net NPA ratio at 3.95%, down by 192 bps (y.o.y) as at June 2020.

❖      Provision Coverage Ratio (PCR) improved significantly by 1020 bps from 68.75% as at June 2019 to 78.95% as at June 2020.

Key Summary of Business Performance (as on 30.06.2020) Business

❖      Global Business increased by 4.01% (y.o.y) to Rs. 1560144 Cr as at June 2020 with Global Deposits at Rs. 909570 Cr (4.56% y.o.y) and Global Advance (gross) at Rs. 650574 Cr (3.25% y.o.y).

❖      Domestic Deposit of the Bank stood at Rs. 869635 Cr as at June 2020 with growth of                   7.66% (y.o.y).

❖      Domestic Advances (gross) of the Bank stood at Rs. 624172 Cr as at June 2020 with growth of 4.72% (y.o.y).

❖      Retail lending Portfolio increased 2.95% (y.o.y) to Rs. 112079 Cr as at June 2020

✔   Housing Loan Portfolio increased 10.06% y.o.y to Rs 58243 Cr

✔   Vehicle Loan portfolio stood at Rs 12508 Cr as at June 2020.

❖      Advances to Agriculture grew by 5.45% (y.o.y) to Rs. 134142 Cr as at June 2020.

Income and Profitability for Q1 FY21

❖      Operating Profit grew by 31.82% to Rs. 4285 Cr during Q1FY21.

❖      Net Profit stood at  Rs. 406 Cr during Q1FY21.

❖      Total Income of the Bank increased by 2.69% (y.o.y) to Rs. 20686 Cr as at Q1 FY21.

❖      Non-Interest Income increased by 10.51% (y.o.y) to Rs. 2650 Cr as at Q1 FY21.

❖      Net-Interest Income grew by 21.11% (y.o.y) to Rs. 6096 Cr as at Q1 FY21.

Asset Quality

❖      Gross Non-Performing Assets (GNPA) ratio reduced to 8.84% as at June 2020 down from 9.39% as at March 2020 and 10.28% as at June 2019.

❖      Net Non-Performing Assets (NNPA) ratio reduced to 3.95% as at June 2020 down from 4.34% as at March 2020 and 5.87% as at June 2019.

❖      Provision Coverage Ratio (PCR) improved to 78.95% as at June 2020 from 68.75% as at June 2019.

Capital Adequacy

❖      CRAR as on June 2020 improved to 12.77% from 12.31% as at June 2019. Out of which Tier-I is 9.29% and Tier-II is 3.48% as at June 2020.

Priority Sector & Financial Inclusion

 ❖      The Bank has achieved Targets in Priority Sector and Agricultural Credit at 45.86% and 20.87% of ANBC as at June 2020, as against the mandatory target of 40% and 18% respectively.

❖      Credit to Weaker Sections stood at 19.40% of ANBC, exceeding the target of 10%.

❖      Credit to women beneficiaries as on June 2020  at Rs. 82880 Cr (14.40 % of ANBC as against the target of 5%).

❖      Bank has opened 133 lakhs accounts under PMJDY and mobilised CASA deposits of Rs. 5541 Cr as at June 2020.

Network

❖      As on 30.06.2020, the Bank has 10451 number of Branches, 3079 Rural , 3175  Semi- Urban, 2073 Urban & 2124 Metro along with 13401 ATMs .

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