Alice Blue Home
URL copied to clipboard

Trending News

Canara Bank Q2 Results: Impressive 11.3% Net Profit Increase Driven by Solid Income Growth; Read More Here

Canara Bank Q2 results show an 11.3% rise in net profit to ₹4,014.5 crore, with total income increasing 10.3% to ₹34,721 crore compared to the previous fiscal year.
https://aliceblueonline.com/top-sectors-to-consider-for-diwali-2024/

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.

Alice Blue Image

Also read: Diwali Stock Market Holiday 2024: Will the Stock Market Remain Closed This Diwali? Here’s the Schedule!

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).

Alice Blue Image

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.

Loading
Submit the form, and get to know how you scored!!!
Read More News