'Canara Bank conducted a conference call on 27January 2025 to discuss its financial results for the quarter ended December 2024. K. Satyanarayana Raju, MD&CEO of the bank addressed the call:
Highlights:
The bank has posted 9.3%
growth in the global business to Rs 24.19 lakh crore end December 2024, driven
by a 10.45% surge in global advances to Rs 10.50 lakh crore and global deposits
rising 8.44% yoy to Rs 13.69 lakh crore.
The retail, agriculture and
MSME (RAM) loan book of the bank increased 12.32% with retail loan growth at
35.46%. The loan growth is healthy for home loans at 12% and vehicle loans at
17%. The corporate credit saw an increase of 8% end December 2024.
The operating profit of the
bank has increased 15.15% yoy to Rs 7837 crore in Q3FY2025. The net profit has
improved 12.2% to Rs 4104 crore. The bank has posted strong 23% growth in the
core fee income to Rs 2185 crore.
On asset quality front, th...
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