Canara Bank has announced robust financial results for the second quarter of FY27, with total business growing by 15.88% to ₹30.72 lakh crores. The bank reported a significant increase in net profit, driven by strong growth in Net Interest Income and improved asset quality, with Gross NPA falling to 1.33%.
Canara Bank Announces Strong Q2 FY27 Performance
Canara Bank has disclosed its financial results for the second quarter and half-year ended September 30, 2026, showcasing significant growth and improved financial metrics. The bank’s total global business reached ₹30,72,000 crore, marking a substantial year-on-year growth of 15.88%.
Key Financial Highlights
- Total Business Growth: Increased by 15.88% to ₹30,72,000 crore.
- Global Deposits: Grew by 13.13% YoY to ₹16,97,000 crore.
- Global Advances: Robust growth of 19.46% YoY to ₹13,75,000 crore.
- Net Interest Income (NII): Grew by 20.39% YoY, reaching an all-time high of over ₹11,000 crore.
- Net Profit: Recorded a quarterly high of ₹5,175 crore, an increase of 8.40% YoY.
- CRAR: Maintained at a healthy 17.19%.
- PCR Coverage: Increased by 175 basis points YoY to 95.34%.
- Gross NPA: Improved to 1.33%, well within the guidance of 1.50% for FY27.
- Net NPA: Further improved to 0.30% from the guidance of 0.40%.
Segmental Performance
The bank highlighted strong performance across various segments. RAM (Retail, Agriculture, and MSME) business grew by 21.03%, with Retail Credit seeing a 31.61% increase. Housing loans grew by 17.35%, and vehicle loans by 25.50%. The MSME segment also recorded a good growth of 15.49%.
Guidance vs. Actual Performance
Canara Bank exceeded its own guidance for most parameters:
- Total Business Growth: Guided 10%-11%, achieved 15.88%.
- Advances Growth: Guided 11%-12%, achieved 19.46%.
- Deposit Growth: Guided 9%-10%, achieved 13.13%.
- NIM: Achieved 2.53% (annual basis) against a guidance of 2.50%-2.60%.
- Gross NPA: Better than guided 1.50%, reported 1.33%.
- Net NPA: Better than guided 0.40%, reported 0.30%.
- Slippage Ratio: Achieved 0.58% against a guidance of 0.80%.
- Credit Cost: Achieved 0.47% against a guidance of 0.75%.
- Return on Equity (ROE): Achieved 18.49% against a guidance of 16.5%.
- Earnings Per Share (EPS): Achieved ₹22.06 against a guidance of ₹20.
The transcript of the earnings conference call, held on October 14, 2026, provides further details on these results and the bank’s outlook.
Source: BSE
