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In an interview to CNBC-TV18, Vaibhav Agrawal, vice president - Research - Banking, Angel Broking, shares his views on Canara Bank's Q3 numbers.
RK Dubey, CMD of Canara Bank is hopeful of the net interest margins improving in the March quarter to 2.3-2.4 percent from the current 2.2 percent
The CNBC-TV18 poll of analysts expect net interest income to rise 15 percent year-on-year to Rs 2,283 crore but profit after tax may fall 11 percent to Rs 633 crore in the quarter gone by on higher provisions.
South-based state-owned lender Canara Bank is likely to report 4 percent year-on-year growth in its first quarter (April-June) net profit at 807 crore. Net interest income or the difference between interests earned and paid out, may grow 17 percent to Rs 2,163 crore, according to an average poll estimate by CNBC TV18.
Emkay Equity Advisory expects Canara Bank to report a 19 percent growth quarter-on-quarter (growth of 11.4 percent year-on-year) in net profit at Rs 863.6 crore.
Nirmal Bang expects Canara Bank to report a 9.8 percent growth quarter-on-quarter (growth of 2.7 percent year-on-year) in net profit at Rs 796.3 crore.
Motilal Oswal expects Canara Bank to report a 7.4 percent growth quarter-on-quarter (growth of 0.5 percent year-on-year) in net profit at Rs 779.4 crore.
Motilal Oswal has come with its March`13 quarterly earning estimates for financial sector. The research firm expects reforms and monetary easing to continue, thereby growth is expected to revive gradually.
Angel Broking has come with its March`13 quarterly earning estimates for banking sector. The research firm expects private banks to report healthy earnings growth of 23.0 percent yoy, however, the PSU banks with expected earnings decline of 13.1 percent yoy, would drag the overall earnings performance (de-growth of 3.2 percent yoy).
Public sector lender Canara Bank's totaled slippages in three quarters was Rs 4,733 crore. It was Rs 1,921 crore last quarter and Rs 1,497 crore in first quarter. Third quarter added slippage was Rs 1,314 crore, due to which Canara Bank's third quarter net profit dropped 19 percent year-on-year to Rs 710.5 crore.
Nirmal Bang has come with its December`12 quarterly earning estimates for banking sector. In 3QFY13, there exists a possibility of treasury profits and write-back of depreciation on investments, which we have not factored in on account of movement of yields and open market operations (OMO) conducted by the Reserve Bank of India (RBI).
Motilal Oswal has come with its December`12 quarterly earning estimates for banking sector. The research firm expects RBI to start cutting interest rates from 4QFY13.
Angel Broking has come with its December`12 quarterly earning estimates for banking sector. The research firm continues to prefer private banks, given their stronger capital adequacy and growth prospects as well as cyclically better asset quality profile, with Yes Bank, Axis Bank and ICICI Bank being top picks.
Public sector lender Canara Bank's profit after tax is expected to remain unchanged at Rs 853 crore in the three months period ended September 2012 as against Rs 852 crore in a year ago period.
In an interview to CNBC-TV18 Suresh Ganapathy of Macquarie reviewed the second quarter financial performance of various public and private sector banks.
Motilal Oswal has come with its September quarterly earning estimates for Financials sector. According to the research firm, banking coverage universe is expected to report healthy PAT growth of 19% YoY, largely driven by 23% YoY profit growth from private sector banks.
Emkay Global Financial Services has come with its September quarterly earning estimates for Banking and Financial Services sector. According to the research firm, top picks for the quarterly results - HDFC Bank, ICICI Bank and United bank in banking space. Mahindra Finance and CRISIL are our top picks in NBFC space.
Dolat Capital has come with its September`12 quarterly earning estimates for financial sector. According to the research firm banks‘ asset quality would remain under stress particularly for state-owned banks.
Angel Broking has come with its September`12 quarterly earning estimates for banking sector. According to the research firm banking stocks remained under stress on increased asset quality concerns.
All listed companies will declare their results for the quarter ending September 30, 2012. In an interview to CNBC-TV18, Vaibhav Agrawal of Angel Broking speaks about his expectations from the banking sector.
Canara Bank CMD S Raman tells CNBC-TV18 that their topline growth was restricted due to a planned de-risking strategy of the banks.
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.
Dolat Capital has come with its June quarterly earning estimates for banking sector. According to the research firm, banks are likely to post 27% YoY growth in PAT for Q1FY13.
Angel Broking has come out with its June quarterly earning estimates for banking sector. The research firm expects margins to come under pressure in 1HFY2013.
Emkay Global Financial Services has come with its June quarterly earning estimates for Banking and Financial Services sector. According to the research firm, lower NII growth is expected to be driven by sluggish advance growth and 5-15 bps contraction in NIMs led by decline in yield on assets and cost pressures.