Canara Bank Q4 FY 2022 Research Tear Sheet

Canara Bank is the third largest nationalised bank in India. It was founded in 1906 on 1^st July. The bank has its headquarter in Bangalore, India. As on 31.3.2022 the bank has 9734 number of Branches and 10817 ATMs as on 31.3.2022. The bank deal with the following products which include Asset management, Commercial banking, Credit cards, Investment banking, Mortgages, Pensions, Private banking and Retail banking. The shares are traded on both BSE and NSE.

Key Financial Highlights

Rs (in Crores)	Mar’22	Mar’21
Net Sales Turnover	17861.59	16315.52
Total Income	22323.11	21522.6
Operating Profit	8887.46	7087.63
EBITDA	13348.98	12294.71
EBIT	17057.66	16428.86
Profit and Loss	5374.9	5145.02

Standalone Highlights

Net Profit improved by 64.90% to Rs.1666 Crores.

Operating Profit increased by 18.80%.

Net Interest income increased by 24.84%

Consolidated Highlights

Net Profit increased by 122% to Rs. 5678 Crores.

Operating Profit grew by 17.27% to 23090 Crores.

Net interest income improved by 9.46% to Rs.26384 Crores.

Gross Advances increased  by 9.77% to Rs. 741147 Crores.

Management Updates

There is a decline inGross Non-Performing Assets by 7.51%.

There is a decline in Net Non-Performing Assets (NNPA) ratio by 2.65%.

RoE increased by 611 bps and stood at 12.82.

Recommended dividend is Rs. 6.50 per share.

The bank is expecting a jump in ROA from 0.5% to 0.7%.

Business Updates

Canara Bank has increased the  Fixed Deposit Interest Rate on deposit less than 2 Cr deposits.

Canara Bank has condensed its stake to 5%  in India Debt Resolution Company Ltd (IDRCL).