Canara Bank shares in focus today; here is what investors need to know

Canara HSBC Life Insurance has received communication from the Securities and Exchange Board of India (SEBI) vide letter dated September 15 on final observations and for filing the Updated Red Hearing Prospectus (UDRHP), Canara Bank said in a regulatory filing.

The offer comprises an offer for sale (OFS) of up to 23.75 crore shares of face value of ₹10 each, including up to 13.77 crore shares by Canara Bank, up to 47 lakh shares by HSBC Insurance (Asia-Pacific) Holdings and up to 9.5 crore shares by Punjab National Bank (PNB).

Canara HSBC Life Insurance Company is a three-way venture promoted by Canara Bank and HSBC Insurance (Asia-Pacific) Holdings, a member of The Hongkong and Shanghai Banking Corporation Ltd (HSBC) group, and another state-owned lender, Punjab National Bank (PNB).

The company had the third-highest assets under management (AUM) amongst public sector-promoted life insurers, as of March 31, 2024.

Incorporated in 2007, Canara HSBC Life Insurance Company has grown into a prominent bank-led private player in the Indian life insurance sector, as it ranks second amongst public sector bank-led life insurers in India based on the number of lives covered for fiscal 2024.

The annualised premium equivalent (APE) of the company has consistently grown, reflecting efforts to expand products and services and increase market presence, as per the DRHP filed by the insurer.

The profit after tax (PAT) of the company has increased at a CAGR of 232.61% from ₹10.2 crore in fiscal 2022 to ₹113.3 crore in fiscal 2024 and was ₹84.8 crore in the nine months ended December 31, 2024, it said.

Canara Bank Q1 FY26 Results

Canara Bank posted a 22% growth in net profit to ₹4,752 crore during the first quarter of the current financial year (Q1 FY26).

The Bengaluru-based bank had earned a net profit of ₹3,905 crore in the same quarter of the preceding fiscal.

The total income rose to ₹38,063 crore during the June quarter of 2025-26, from ₹34,020 crore logged in the same quarter of FY25, Canara Bank said in a regulatory filing.

Interest earned by the bank improved to ₹31,003 crore, as compared to ₹28,701 crore seen in the June quarter of FY25.

During the period under review, its operating profit increased to ₹8,554 crore, as compared to ₹7,616 crore registered in the same quarter a year ago.

The bank's asset quality showed improvement as gross non-performing assets (NPAs) declined to 2.69% of gross advances at the end of the June quarter, from 4.14% a year ago.