Canara BankRecord profit ₹5,175 Cr, NIM 2.55%, GNPA 1.33%

Canara Bank reported its highest-ever quarterly net profit of ₹5,175 crore for Q2 FY27, up 8.40% year-on-year.

Net interest income rose 20.39% and net interest margin was 2.55% for the quarter. Global advances grew 19.46% to ₹13.75 lakh crore and deposits grew 13.13%, taking total business above ₹30 lakh crore. Gross NPA improved to 1.33% and net NPA to 0.30%, with provision coverage at 95.34% and credit cost at 0.47%. Return on equity was 18.49% and earnings per share ₹22.06. CASA was 29% after the bank raised $5.8 billion of FCNR(B) term deposits.

Treasury turned to a loss as bond yields hardened, a swing management put at about ₹600 crore. The bank estimates its one-time expected credit loss provision at ₹12,000 crore to ₹15,000 crore, expects to absorb it within two years, and reports CRAR of 17.19%. Management did not revise its full-year guidance and said it intends to better it. The loan pipeline stands at close to ₹50,000 crore.