In a sector still grappling with high NPA levels, Canara Bank’s Q2 results delivered a 9% YoY lift in net profit to ₹5,175 crore, while core income surged 20.4% to ₹11,004 crore, surpassing the ₹9,141 crore benchmark of the same quarter last year.
Gross NPA shrank to 1.33% from 1.57%, and net NPA fell to 0.3% from 0.36% sequentially, translating to ₹18,298.95 crore and ₹4,053.19 crore respectively, against ₹20,354.34 crore and ₹4,652.95 crore last quarter.
Provisions eased to ₹3,583 crore from ₹3,780 crore, while fresh slippages edged up to ₹1,844 crore from ₹1,781 crore. Loan growth hit 19.3% YoY, climbing 6.2% sequentially to ₹13.73 lakh crore, whereas deposits rose 13.1% YoY, 5% sequentially to ₹16.97 lakh crore.
The stock climbed 4% to ₹125.17, yet remains 19% lower YTD, reflecting long‑term pressure on PSU banks.
With no official guidance disclosed, analysts expect the bank to maintain its loan‑growth trajectory in Q3, while tighter regulations could temper net interest income in the coming quarter.