'Canara Bank has
reported 10% growth in net profit at Rs 3905.28 crore for the quarter ended
June 2024 (Q1FY2025). The bank has posted 6% growth in net interest income
(NII), while the core fee income of the bank improved 17% in Q1FY2025. The Net
Interest Margin (NIM) of the bank eased to 2.90% in Q1FY2025 compared to 3.05%
in the corresponding quarter of previous year.
On business front, the
bank as has posted 11% growth in business with 10% rise in loan book. The asset
quality of the bank was stable in Q1FY2025. Bank has substantially improved the
credit to deposit ratio to 73.0% at end June 2024 from 74.4% at end June 2023.
However, the CASA ratio of the bank has declined to 28.6% at end June 2024 from
30.6% at end June 2023.
Asset quality stable: The bank has maintained
stable asset quality in Q1FY2025.
The fresh slippages of
loans stood at Rs 3337 crore in Q1FY2025 compared with 3400...
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(06-Nov-2024)
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