Canara Bank Q2 Results: State-owned Canara Bank reported an 11.3% rise in net profit, reaching ₹4,014.5 crore for the quarter ending September 2024. In the same quarter of the previous fiscal year, the post-tax profit was ₹3,606.1 crore. The bank’s total income also increased by 10.3%, totaling ₹34,721 crore compared to ₹31,472.1 crore a year earlier.
The net interest income (NII) for the second quarter of FY25 grew by 4.6% year-on-year to ₹9,315 crore, up from ₹8,903 crore in the same period last year. Additionally, the bank reported a 9.4% growth in global business, which reached ₹23,59,344 crore, while global deposits rose by 9.3% to ₹13,47,347 crore.
Canara Bank’s net non-performing assets (NPA) ratio improved to 0.99%, reflecting a 42 basis point enhancement from Q2 FY24. The gross NPA (GNPA) ratio decreased to 3.73%, down from 4.14% in Q1 FY25 and 4.76% in Q2 FY24.
Also Read: Infosys Stock Slips 1.65% as Rs 8,719 Crore Interim Dividend of Rs 21 Announced; Details Inside
Following the announcement of these results, Canara Bank’s shares experienced positive trading, increasing by 1.4% to ₹102.1 on the National Stock Exchange (NSE) and 1.6% to ₹102.2 on the Bombay Stock Exchange (BSE).
As of September 30, 2024, Canara Bank operated 9,658 branches, with a significant presence in rural (3,115) and semi-urban (2,778) areas. The bank also has 9,881 ATMs and four international branches located in London, New York, IBU Gift City, and Dubai.