Canara Bank - Performance Highlights of FY2020


Performance Highlights of FY2020

 

Key Highlights


Bank’s Global Business reached Rs.10,76,574 crore

 

v  Domestic Business of the Bank grew by 4.4% (y.o.y) to Rs.10,28,348 Cr as at March 2020 from Rs.9,84,921 Cr in corresponding period last year.

v  CASA Deposits increased by 12.2% (y.o.y) to Rs.1,96,207 Cr as at March 2020. Domestic CASA share improved (y.o.y) by 173 bps to 32.59% as at March 2020.

v  Retail Term deposit grew by 11.4% (y.o.y) to Rs.2,58,612 Cr as at March 2020.

v  Retail Credit increased by 12.1% (y.o.y) to Rs.79,800 Cr with Housing loan growing by 18.0% (y.o.y) as at March 2020.

v  Operating Profit stood at Rs.9360  Cr in FY20.

ü During Q4 FY20, operating profit stood at Rs.2041 Cr.

v  Non interest income stood at Rs.7,813 Cr in FY20 with growth of 18.8% (y.o.y).

ü During Q4 FY20, Non interest income stood at Rs.2,175 Cr with growth of 16.8% (y.o.y).

v  CRAR (Basel III) stood at 13.65% as at March 2020, increased by 175 bps (y.o.y).

v  Gross NPA ratio at 8.21%, down by 62 bps (y.o.y) while Net NPA ratio at 4.22%, down by115 bps (y.o.y) as at March 2020.

v  Provision Coverage Ratio (PCR) improved significantly by 773 bps y.o.y from 68.13% as at March 2019 to 75.86% as at March 2020.

 

 

 

 

 

 

 

 

 


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Key Summary of Business Performance (as on 31.03.2020)

Business

v  Global Business increased  by 3.2% (y.o.y) to Rs.10,76,574 Cr as at March 2020 with Global Deposits at Rs.6,25,351 Cr (4.4% y.o.y) and Global Advance (gross) at Rs.4,51,223  Cr (1.6% y.o.y).

v  Domestic Deposit of the Bank stood at Rs.6,01,664 Cr as at March 2020 with growth of 6.3% (y.o.y).

v  Domestic Advances (gross) of the Bank stood at Rs.4,26,684 as at March 2020 with growth of 1.8% (y.o.y).

v  Retail Lending Portfolio increased 12.1% y-o-y to Rs.79,800 Cr as at March 2020

ü Housing Loan Portfolio increased 18.0% y-o-y to Rs.39,611 Cr

ü Vehicle loans & other personal loans grew by 10.6% (Rs.10,446 Cr) and 5.3% (Rs.20320 Cr) respectively.

v  Advances to Agriculture grew by 6.1% (y.o.y) to Rs.96,043 Cr as at March 2020.

Income and Profitability for Q4 FY20

v  Operating profit stood at Rs.2041 Cr as at Q4 FY20. However, there is a net loss of Rs.3259 Cr as at Q4 FY20 due to increased provisions.

v  Total Income of the Bank increased by 1.6% (y.o.y) to Rs.14,222 Cr as at Q4 FY20

v  Non-Interest Income increased by 16.8% (y.o.y) to Rs.2,175 Cr as at Q4 FY20

Income and Profitability for Financial Year 2020

v  Operating profit stood at Rs.9360 Cr in FY20. However, there is a net loss of Rs.2236 Cr in FY 20 due to increased provisions.

v  Total Income of the Bank increased by 6.3% (y.o.y) to Rs.56,748 Cr in FY20.

v  Non-Interest Income increased by 18.8% (y.o.y) to Rs.7,813 Cr in FY20.

Asset Quality

v  Gross Non-Performing Assets (GNPA) ratio reduced to 8.21% as at March 2020 down from 8.36% as at December 2019 and 8.83% as at March 2019.

v  Net Non-Performing Assets (NNPA) ratio reduced to 4.22% as at March 2020 down from 5.05% as at December 2019 and 5.37% as at March 2019.

v  Provision Coverage Ratio (PCR) improved to 75.86% as at March 2020 from 68.13% as at March 2019.

Capital Adequacy

v  CRAR as on March 2020 improved to 13.65% as at March 2020 from 11.90% as at March 2019. Out of which Tier-I is 10.12% and Tier-II is 3.53% as at March 2020.

Priority Sector & Financial Inclusion

v  The Bank has achieved Targets in Priority Sector and Agricultural Credit at 44.66% and 18.58% of ANBC as at March 2020, as against the mandatory target of 40% and 18% respectively.

v  Credit to Weaker Sections stood at Rs.94,619 Cr as at March 2020 (18.48% of ANBC, exceeding the target of 10%).

v  Credit to women beneficiaries stood at Rs.59,827 Cr ( 14.72% of ANBC as against the target of 5%).

v  Bank has opened 76.38 lakhs accounts under PMJDY and mobilised CASA deposits of Rs.2874 Cr as at March 2020.

Network

v  As on 31.03.2020, the Bank has 6329 number of Branches. Rural:1826, Semi-Urban:2004, Urban:1226 & Metro:1273, and 8850 number of ATMs.

Digitalization

v  Percentage share of transactions through Alternate Delivery Channels stood at 74% as at March 2020.

v  Internet Banking Services users increased by 76% (y.o.y) to 109 lakhs as at March 2020.

Awards

v  Best innovation in Banking technology award for CANDI Branch received in IDRBT banking technology innovation contest.

v  Canara DiYA won Silver in SKOCH Awards 2019.

v  IBA's 15th Annual Banking Technology Award 2020 received for Most Customer-Centric Bank using Technology

v  FINNOVITI 2020 award received for CANDLE for one of the best innovation in financial sectors’ technology.

v  Canara Bank won Tax Deductor of the Year Award for recognition of timely compliance to the TDS/TCS provisions of Income Tax Act.

v  ‘SIDBI-ET INDIA MSE AWARD-2019’ for noteworthy Lender to MSE – (Public Sector Bank) Award Category.

Goals: March 2021

v  Thrust on business expansion and augmenting market share.

v  Improving retail business and shoring up CASA.

v  Balanced growth in advances with proper mix of Retail, Agri, MSME & Corporate Credit.

v  Verticalization for better business augmentation and customer service.

v  Feet-on –street for lead generation, collection and recovery.

v  Focus on NPA management with strategic actions on strengthening credit monitoring, containing fresh slippages and augmenting recovery efforts.

v  Strengthening digital capabilities and offerings for better customer service and acceptability with end to end digital solutions.

v  Process Improvements to minimize turnaround time and improve efficiency to enhance productivity.

 

Bank’s preparedness and support amid Covid-19 challenges

 

v  In the wake of Covid-19 pandemic the Bank has been successfully managing business operations through focused measures to serve the customers effectively.

v  97% of our branches were operational during the nationwide lockdown period.

v  We tapped our digital potential, thus taking the total number of E-transactions at 23.94 Cr with an amount of Rs.5,16,217 Cr during the lockdown.

v  The Bank accelerated Business Correspondent (BC) services with 119 lakh transaction & Rs.3,792 Cr business during 31st March 2020 to 15th June 2020.

v  Introduced CANARA CREDIT SUPPORT as part of Emergency Credit Line Facilities to Covid-19 affected customers. Loans worth Rs.1571 Cr has been disbursed to 73031 accounts under MSME so far.

v  Introduced Guaranteed Emergency Credit Line (GECL) for eligible MSME customers. Loans worth Rs.2755 Cr has been disbursed to 177343 accounts.

Amalgamation of SyndicateBank into Canara Bank

v  Amalgamation of SyndicateBank into Canara Bank has become effective from April 1, 2020.

v  The combined entity will have enhanced capabilities with best-in-class products & processes for better value to all the stakeholders.

v  Amalgamation would synergize the common history, culture, ethos and vision of both banks and also leverage the legacies, strength and best practices.

v  Amalgamated Bank will have

*        Improved presence in all States & Union territory of the country

*        Conveners of SLBC in 2 states viz., Karnataka & Kerala and Convener of UTLBC of Lakshadweep

*        Lead bank responsibilities in 60 districts of major States/UTs

*        Combined network of 10403 branches and 13406 ATMS

*        Customer base of over 13 Cr with Total business of Rs.15.58 Lakh Cr Comprising Deposits of Rs.9.07 lakh Cr and Gross Advances of Rs. 6.51 Lakh Cr

*        Positioned as 4th  largest public sector bank in the country

*        Realizing synergy benefits from cost and income synergies

 

v  Interoperable services (12 key services) are provided in all the branches of Amalgamated Bank from 01.04.2020.

v  Revised Organizational Structure at Head Office with specialized verticals to concentrate on business growth and control/compliance mechanism.

v  Four Tier Organizational Structure with 24 Circles and 176 Regional Offices commenced functioning from 27.04.2020.

v  Having a strong work force of over 90,000 employees.

Comments

  1. banking platform software
    True customer-centricity dictates that banks adapt to changed and changing customer expectations both retail and corporate.

    ReplyDelete

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