Shares of Canara Bank Ltd. surged to the highs of the day, gaining as much as 4% after the lender’s asset quality in the June quarter improved on a sequential basis.Canara Bank’s gross NPA improved to 2.69% from 2.94% last quarter, while Net NPA improved to 0.63% from 0.7% in the previous quarter.
The lender’s Net Interest Income (NII) or core income fell 1.7% from last year to ₹9,009 crore, while net profit grew 21.7% on a year-on-year basis to ₹4,752 crore, this was aided by a jump in other income.
Canara Bank’s other income for the quarter grew to ₹7,060 crore from ₹5,318 crore last year.
Provisions for tax and contingencies stood at 2,351 crore from ₹1,831 crore in the previous quarter, while provisions for NPAs stood at ₹1,845 crore from ₹2,847 crore in the previous quarter.Global advances for the quarter increased by 12.4% from last year to ₹10.96 lakh crore, while deposits saw a 10% growth on a year-on-year basis to ₹14.67 lakh crore.
The lender’s Net Interest Income (NII) or core income fell 1.7% from last year to ₹9,009 crore, while net profit grew 21.7% on a year-on-year basis to ₹4,752 crore, this was aided by a jump in other income.
Canara Bank’s other income for the quarter grew to ₹7,060 crore from ₹5,318 crore last year.
Provisions for tax and contingencies stood at 2,351 crore from ₹1,831 crore in the previous quarter, while provisions for NPAs stood at ₹1,845 crore from ₹2,847 crore in the previous quarter.Global advances for the quarter increased by 12.4% from last year to ₹10.96 lakh crore, while deposits saw a 10% growth on a year-on-year basis to ₹14.67 lakh crore.
Addition of fresh slippages also moderated. Fresh slippages during the June quarter stood at ₹2,129 crore, from ₹2,655 crore in the March quarter.
Recoveries from written-off accounts during the quarter stood at ₹1,414 crore.
Shares of Canara Bank are trading 4% higher after the results announcement, to trade at ₹112.5. The stock has risen 11.6% so far in 2025.
First Published: Christmas 24, 2025 1:36 pm IS
