Canara Bank to focus on expanding domestic branch network

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Canara Bank to focus on expanding domestic branch network

Canara Bank has declared its second quarter results. The company’s Q2 NII was up 14.33% at Rs 1,313.7 crore versus Rs 1,149 crore. Its net profit was up 71.98% at Rs 910.5 crore versus Rs 529.4 crore.

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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 Canara Bank BSE | NSE 31/05/12 Are Mutual Funds betting on Canara Bank?

Canara Bank has declared its second quarter results. The company's Q2 NII was up 14.33% at Rs 1,313.7 crore versus Rs 1,149 crore.

Its net profit was up 71.98% at Rs 910.5 crore versus Rs 529.4 crore.

Key Takeaways from Canara Bank concall:

Interest Income continues to drive growth in income; over 2/3rd of earnings from interest on advances/loans.

Robust growth under Non-Interest Income.

Education Loans up up by 30% y.o.y.

Focus on expanding domestic branch network.

Addition of 128 branches during the current financial so far.  

Significant rise in number of Savings Bank accounts   

Over 2000 ATMs spread across the country

Nearly 36 million strong cross-section clientele base.