Canara Bank - Q1 results for F.Y. 25-26

Canara Bank - Q1 results for F.Y. 25-26 -

1) Canara Bank eyes over 12% credit growth, bets on retail and MSME segments 2) 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. 3) 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. 4) Canara Bank's other income for the quarter grew to ₹7,060 crore from ₹5,318 crore last year. 5) 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. 6) 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. 7) 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. 8) Recoveries from written-off accounts during the quarter stood at ₹1,414 crore. 9) All this is for information. This is not a buy/sell recommendation. Overall results are better than expected. Thank you, Technofunda24