PSU lender Canara Bank Ltd on October 29 reported 11% rise in net profit at Rs 4,015 crore for the quarter ended September 30, 2024.
Its total income rose 10% to Rs 34,721 crore in Q2FY25.
At 12:55 pm on October 29, Canara Bank's shares were trading 1% higher at Rs 101.66 apiece.
The bank's gross NPA (non-performing asset) ratio decreased to 3.73% for the September 2024 quarter, down from 4.14% a quarter ago, reflecting improved asset quality.
The net NPA ratio year-on-year was reduced by 24 basis points to 1% during the quarter, the lender said.
Provision Coverage Ratio (PCR) stood at 90.89% as at September 2024 against 89.22% as at June 2024, 88.73% as at September 2023.
Global Business increased by 9.42% on-year to Rs 2.36 lakh crore as at September 2024 with Global Deposits at Rs 1.35 lakh crore, 9.34% on-year and Global Advance (gross) at Rs 1.02 lakh crore 9.53% on-year.
Domestic Deposit of the Bank stood at Rs 1.24 lakh crore as at September 2024 with growth of 8.34% on-year.
Domestic Advances (gross) of the Bank stood at Rs 9.54 lakh crore as at September 2024 grew by 8.64% on-year.
CRAR stood at 16.57% as at September 2024 (16.38% as at June 2024). Out of which Tier-I is
14.64% (14.37% as at June 2024), CET1 is 12.00% (12.05% as at June 2024) and Tier-II is 1.93%
(2.01% as at June 2024).
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