Canara Bank Q2 results: Net profit rises 11% to ₹4,014.5 crore, NII up 4.6%

Total income increased 10.3% to ₹34,721 crore in the second quarter of the current fiscal year, compared to ₹31,472.1 crore a year ago.

The net interest income (NII) increased 4.6% year-on-year (YoY) to ₹9,315 crore in Q2 FY25 from ₹8,903 crore in the year-ago period.

The lender, in an exchange filing, said that the global business grew by 9.4% YoY to ₹23,59,344 crore, while the global deposits were at ₹13,47,347 crore, up 9.3% YoY.

The bank's net non-performing assets (NPA) ratio stood at 0.99%, an improvement of 42 basis points (bps) from Q2 FY24. The gross NPA (GNPA) ratio improved to 3.73% in the quarter under review, reduced from 4.14% in Q1 FY25 and 4.76% in Q2 FY24.

Canara Bank shares rise

Following the results, shares of Canara Bank were trading in the green territory. The stock was up 1.4% to ₹102.1 apiece on the National Stock Exchange (NSE).

On the BSE, the stock gained 1.6% to ₹102.2 a unit.

"CRAR (Capital to Risk Weighted Assets Ratio) 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), Common Equity Tier 1 (CET1) is 12.00% (12.05% as at June 2024) and Tier-II is 1.93% (2.01% as at June 2024)," the bank said.

As of September 30, 2024, the Bank has 9,658 branches, 3,115 of which are in rural areas, 2,778 in semi-urban areas, 1,918 in urban areas, and 1,847 in metro cities. The lender also has 9,881 ATMs, as well as four overseas branches in London, New York, IBU Gift City, and Dubai.