Canara Bank net profit up 33% to ₹5,004 crore

K. Satyanarayana Raju. File
| Photo Credit: Special Arrangement

Canara Bank posted a 33.19% year-on-year (YoY) increase in net profit to ₹5,004 crore for the March quarter of FY25, up from ₹3,757.23 crore a year ago.

The Q4 saw the bank’s total interest income increase to ₹31,002.04 crore, a 7.62% YoY growth over ₹28,807.35 crore in the previous year.

Its operating profit grew 12% to ₹8,284 crore from ₹7,387 crore in the same quarter a year ago.

The bank’s global business increased by 11.32% YoY to ₹25,30,215 crore, and global deposits increased by 11.01% to ₹14,56,883 crore. Its global advance (gross) increased by 11.74% to ₹10,73,332 crore, while domestic advances (gross) at ₹10,08,671 crore grew by 11.06%. Domestic deposits of the bank stood at ₹13,31,137 crore, indicating a 9.56% growth YoY.

However, Canara Bank’s net interest income declined 1.44% YoY to ₹9,442 crore from ₹9,580 crore in Q4 of FY24. The net interest margin dropped 25 basis points YoY to 2.80% from 3.05%.

During the quarter, its gross NPA declined to 2.94% from 4.23% YoY, net NPA decreased to 0.70% from 1.27%.

The board of directors has recommended a dividend of ₹4 per equity share for the year ended on March 31, 2025, subject to requisite approvals.