Canara Bank Q2 Results: Net profit jumps 11% YoY to Rs 4,015 crore

Canara Bank on Tuesday reported an 11% increase in its standalone net profit for the September quarter, reaching Rs 4,015 crore, compared to Rs 3,606 crore in the same period last year.

The interest earned by the lender in Q2 FY25 stood at Rs 29,740 crore, up 11% from Rs 26,838 crore reported in the corresponding quarter of the previous financial year.

The interest expended by the lender stood at Rs 20,425 crore, 14% higher compared to the Q2 FY24 figure of Rs 17,935 crore reported in the same period last year.


Canara Bank's global business stood at Rs 23,59,344 crore, up 9.42% on a YoY basis. Within this, global deposits reached Rs 13,47,347 crore, growing by 9.34% over Q2 FY24, while gross advances stood at Rs 10,11,997 crore, reflecting a growth of 9.53% compared to the corresponding quarter of the previous financial year.

The retail lending portfolio increased by 31.27% YoY to Rs 1,94,556 crore as of September 2024, while the housing loan portfolio rose by 12.3% YoY to Rs 99,452 crore.

The Gross Non-Performing Assets (GNPA) ratio improved to 3.73% as of September 2024, down from 4.14% as of June 2024 and 4.76% as of September 2023. Meanwhile, the Net Non-Performing Assets (NNPA) ratio also improved to 0.99% as of September 2024, decreasing from 1.24% as of June 2024 and 1.41% as of September 2023.

The Provision Coverage Ratio (PCR) stood at 90.89% as of September 2024, compared to 89.22% as of June 2024 and 88.73% as of September 2023.

The bank's CRAR stood at 16.57% in Q2 FY25, compared to 16.38% in Q1 FY25. Of this, Tier-I capital was at 14.64%, up from 14.37% at the end of the June 2024 quarter, while Tier-II capital stood at 1.93%, down from 2.01% as of June 2024.

The state-run bank reported a total of 9,658 branches at the end of Q2 FY25, comprising 3,115 rural branches, 2,778 semi-urban branches, 1,918 urban branches, and 1,847 metro branches, along with 9,881 ATMs. The bank also operates four overseas branches in London, New York, Dubai, and IBU Gift City.

The earnings were announced during market hours, and Canara Bank shares surged 3% to reach a day's high of Rs 103.35 on the BSE.