CANARA BANK FINANCIAL RESULTS FOR THE QUARTER ENDED 30th JUNE 2021

CANARA BANK 
FINANCIAL RESULTS FOR THE QUARTER ENDED 30th JUNE 2021

 

 Key Highlights (3 Months ended)  

(June 2020 V/s June 2021)

*     Net Profit stood at Rs1177 cr. against Net Profit of Rs.406 crores for June-2020

*     Operating Profit stood at Rs.5751 cr. grew by 34.18%

*     Non-Interest Income grew by 67.47%

*     Fee based income grew by 43.61%

*     Cost to Income Ratio improved by 533 bps

*     Global Business grew by 9.38%

*     Agricultural & Allied Credit grew by 17.03%

*     Retail Credit grew by 9.57% with Housing loan at 13.15%

*     RAM constitutes 55.37% of Total Advances

*     CASA Deposits increased by 12.91%

*     Savings Bank Deposits grew by 14.38%

*     Retail term deposit grew by 12.14%

*     Gross NPA Ratio down by 34 bps

*     Net NPA Ratio down by 49 bps

*     Provision Coverage Ratio (PCR) at 81.18% improved by 223 bps

*     CRAR stood at 13.36% as at June 2021. Out of which Tier-I is 10.34% and Tier-II is 3.02%

*     Return on Assets improved to 0.41% for Q1FY22 against 0.16% for Q1FY21




Key Summary of Business Performance (as on 30.06.2021)

         Business

 *     Global Business increased by 9.38% (y.o.y) to Rs 1706422 Cr as at June 2021 with Global Deposits at Rs 1021837 Cr 12.34% (y.o.y) and Global Advance (gross) at Rs 684585  Cr 5.23% (y.o.y)

*     Domestic Deposit of the Bank stood at Rs 970481 Cr as at June 2021 with growth of 11.60% (y.o.y)

*     Domestic Advances (gross) of the Bank stood at Rs 661236 Cr as at June 2021 grew by 5.94% (y.o.y)

*     Retail lending Portfolio increased 9.57% (y.o.y) to Rs 115291 Cr as at June 2021

o   Housing Loan Portfolio increased 13.15% y.o.y to Rs 65136 Cr

o   Vehicle Loan portfolio increased 9.22% y.o.y to Rs 13433 Cr

*     Advances to Agriculture grew by 17.03% (y.o.y) to Rs 156801 Cr as at June 2021

 

 

Asset Quality

*     Gross Non-Performing Assets (GNPA) ratio stood at 8.50% as at June 2021 as against 8.93% at March 2021, 8.84% as at June 2020.

*     Net Non-Performing Assets (NNPA) ratio stood at 3.46% as at June 2021 as against 3.82% as at March 2021,3.95% as at June 2020.

*     Provision Coverage Ratio (PCR) improved to 81.18% as at June 2021 from 78.95% as at June 2020.

Capital Adequacy

 

 

*     CRAR stood at 13.36% as at June 2021. Out of which Tier-I is 10.34% and Tier-II is 3.02%

*     The Capital Raising Plan for FY-22:

 

QIP Equity      : Rs.2500 Cr

AT-1 Bonds     : Rs.4000 Cr

Tier II Bonds   : Rs.2500 Cr

 

 

 

Priority Sector & Financial Inclusion

 

*     The Bank has achieved Targets in Priority Sector at 45.47% and Agricultural Credit at 20.93% of ANBC as at June 2021, as against the norm of 40% and 18% respectively

*     Credit to small and marginal farmers stood at 14.27% of ANBC, against the norm of 9%

*     Credit to Weaker Sections stood at 20.34% of ANBC, against the norm of 11%

 

*     Bank has opened 138 lakhs accounts under PMJDY and mobilised CASA deposits of Rs 6103 Cr as at June 2021

 

Network

 

 

*     As on 30.06.2021, the Bank has 9877 Number of Branches, out of which 3047 are Rural, 2853 Semi- Urban, 1973 Urban & 2004 Metro along with 11819 ATMs

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