Canara Bank Q3 PAT seen down 17% at Rs 913 cr

19261 Investors following Canara Bank. Share this News with them.

0

Like this story, share it with millions of investors on M3

Canara Bank Q3 PAT seen down 17% at Rs 913 cr

State-owned Canara Bank is expected to report a profit after tax of Rs 913 crore in the third quarter of FY12, a fall of 17% as compared to Rs 1,105 crore in a year ago quarter.

Post your opinion here

 

0

Tweet

Share on Tumblr

ALSO READ News and Notices about Canara Bank See interviews with Canara Bank Management See what other Experts & Brokerages are saying about Canara Bank See previous Results of Canara Bank

State-owned Canara Bank is expected to report a profit after tax of Rs 913 crore in the third quarter of FY12, a fall of 17% as compared to Rs 1,105 crore in a year ago quarter.

Net interest income is seen going down 1.5% to Rs 2,085 crore from Rs 2,119 crore year-on-year.

Highlights

- High exposure to corporate segment to lead to sharp decline in loan growth
* Loan growth to decline to 13% for FY13 (I-Sec)

- Loan growth expected at 21% YoY 

- Deposit growth of 25%

- Expect margins to improve by 10 bps

- Slippages were Rs 1,240 crore in Q2 due to system based NPA recognition
* With entire portfolio transitioned, slippages are likely to normalise

- SEB exposure quite high - may lead to higher restructuring

- Muted NII growth and higher provisions would lead to PAT decline

- Infra exposure at 17% of loan book (of which SEB exposure: 6% of book)

Management says

- Expect NIMs at around 2.8% for this fiscal

- Expect slippages to come down going forward