Canara Bank Q2 Net Profit Rises 8.4% to ₹5,175 Crore
· Business · Economic Times, LiveMint, Business Standard
Canara Bank reported an 8.4% year-on-year increase in net profit to ₹5,175 crore for the second quarter of FY27, compared to ₹4,774 crore in the corresponding period last year. The state-owned lender's performance was bolstered by improved asset quality and a 20.4% jump in net interest income to ₹11,005 crore. However, earnings growth was partially weighed down by an 18% fall in non-interest income to ₹5,772 crore due to mark-to-market treasury losses amid rising bond yields. The bank's gross non-performing assets ratio improved to 1.3% at the end of September, down from 2.4% a year earlier. Global deposits rose 13.1% year-on-year to ₹17 lakh crore, aided by $5.8 billion in foreign currency non-resident bank inflows.
Why it matters
Lower provisioning requirements and robust core lending income helped Canara Bank expand profits despite headwinds from treasury losses.
Read the original report — Economic Times
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