Canara Bank is the third largest nationalised bank in India. It was founded in 1906 on 1st 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).