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    HomeNewsBusinessEarningsCanara Bank Q2 PAT seen up 70.9% to Rs 391.4 cr: KR Choksey

    Canara Bank Q2 PAT seen up 70.9% to Rs 391.4 cr: KR Choksey

    Net Interest Income is expected to increase by 9 percent Q-o-Q (down 5 percent Y-o-Y) to Rs 2514.2 crore, according to KR Choksey.

    October 21, 2016 / 17:07 IST
       
       
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      KR Choksey has come out with its second quarter (July-September) earnings estimates for the Banking sector. The brokerage house expects Canara Bank to report net profit at Rs 391.4 crore, up 70.9 percent quarter-on-quarter.

      Net Interest Income is expected to increase by 9 percent Q-o-Q (down 5 percent Y-o-Y) to Rs 2514.2 crore, according to KR Choksey.

      KRChoksey's report on Canara Bank

      Given the subdued business growth and anticipated continued asset quality pressures, profitability is expected to remain weaker. However, better margins and increased non-interest income should help restrict major declien in operating profits. Expect monetization of non-core assets to beef up Tier I capital base.
      Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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      first published: Oct 21, 2016 05:07 pm

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