Go Ad-Free
    My Alerts
    Moneycontrol
    Moneycontrol PRO
    HomeNewsBusinessEarningsCanara Bank's PAT likely to grow 14% to Rs 828 cr in Q1

    Canara Bank's PAT likely to grow 14% to Rs 828 cr in Q1

    Public sector lender Canara Bank is set to announce its results for the quarter ended June 2012. Analysts on an average expect profit after tax to increase by 14% year-on-year to Rs 828 crore in the first quarter of FY13.

    July 24, 2012 / 13:45 IST
       
       
      26 Aug, 2025 12:21
      Volume
      Todays L/H
      More

      Public sector lender Canara Bank is set to announce its results for the quarter ended June 2012. Analysts on an average expect profit after tax to increase by 14% year-on-year to Rs 828 crore in the first quarter of FY13.


      Net interest income too is seen growing by 14% to Rs 2,040 crore during the same period.


      Loan growth is expected to be below industry average at 10-12%, which is in-line with the bank’s strategy of de-bulking the balance sheet. In quarter ended March 2012, loan book grew by 10% YoY due to decline in small & medium enterprise (SME) (that went down 7% YoY) and retail loans (down 2% YoY). Deposits rose by 11% YoY.


      Net interest margin is expected to be flat to downward trending. In Q4FY12, net interest margin was at 2.5% and cost of funds rose by 13 basis points QoQ to 6.7%.

      Analysts expect higher provisioning; hence PAT is expected to be muted.

      first published: Jul 24, 2012 09:44 am

      Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

      Subscribe to Tech Newsletters

      • On Saturdays

        Find the best of Al News in one place, specially curated for you every weekend.

      • Daily-Weekdays

        Stay on top of the latest tech trends and biggest startup news.

      Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347
      CloseOutskill Genai