Conference Call with Canara Bank Management and Analysts on Q2FY23 Performance and Outlook. Listen to the full earnings transcript.
Canara Bank announced Q2FY23 results: Net Profit stood at Rs.2525 crore against Net profit of Rs. 1333 crore for September 2021. Operating Profit stood at Rs. 6905 crore grew by 23.22%. Non-Interest Income grew by 13.05%. Net-Interest Income grew by 18.51% Fee based income grew by 17.98%. Cost to Income Ratio down by 316 bps. Global Business grew by 13.89%. Gross Advances grew by 20.00%. RAM Credit grew by 16.40%, it constitutes 55% of Total Advances. Retail Credit grew by 12.52% with Housing loan at 17.01%. Gold Loan grew by 32.86% with Portfolio amount of Rs.1,08,794 crore. Gross NPA Ratio stood at 6.37% down by 205 bps. Net NPA Ratio stood at 2.19% down by 102 bps. Provision Coverage Ratio (PCR) at 85.36% improved by 292 bps. CRAR stood at 16.51% as at Sep 2022. Out of which CET1 is 11.14%. Return on Equity stood at 18.86% improved by 664 bps. Bank has shifted to new tax regime. The reduction in Deferred Tax is Rs. 2,451.60 crore. Result PDF