Canara Bank's Q4 Financial Triumph

Canara Bank has reported a significant 28% year-on-year increase in its consolidated net profit, reaching Rs 5,070 crore for the March quarter. This remarkable growth is attributed to lower provisions and a robust increase in non-core income.

Annual Performance Highlights

For the fiscal year FY25, the bank's net profit climbed to Rs 17,540 crore, up from Rs 15,279 crore in FY24, showcasing a steady operational performance despite challenges in core margins.

Loan Growth and Interest Margins

While the bank witnessed an 11% year-on-year growth in loans, the core Net Interest Income (NII) experienced a slight decline of 1.44% to Rs 9,442 crore, influenced by a narrowing net interest margin (NIM).

Non-Interest Income and Asset Quality

Non-interest income saw a sharp 21.74% rise, reaching Rs 6,351 crore, driven by recoveries and treasury income. Asset quality improved, with gross NPAs decreasing to 2.94% in March.

Future Outlook

CEO Satyanarayana Raju outlined ambitious targets for FY26, including 10-11% loan growth and maintaining NIMs within the 2.75-2.80% range. The bank also plans to reduce gross NPAs further to 2.50%.