Bangalore based Canara Bank has earned Rs 656 crore as net profit for the quarter ended December 2014.Same quarter last fiscal it earned Rs.409 crore as net profit.
Major Highlights – Q3FY15
Net profit at Rs.656 crore, up by 60.3%.
Operating Profit up by 13% y-o-y to Rs.1797 crore.
Total Fee income up by 38.2% to 1176 crore from Rs.851 crore last year.
Total Business at Rs.7.75 lakh crore, up by 11.2% y-o-y.
Total Deposits at Rs.4.62 lakh crore, up by 13.1% y-o-y.
Advances (net) at Rs.3.12 lakh crore, moderated growth rate at 8.5% y-o-y.
Continued robust growth in Retail Segments – Priority Credit – (21%), Agriculture (24%), MSME (19.5%), MSE (25%), Retail Lending (22%), Direct Housing Loans (30%), Vehicle Loans (30%) and other personal loans (95%).
Gross NPA Ratio at 3.35% and net NPA Ratio at 2.42%.
Record Cash Recovery during 9M FY15 at 4427 crore compared to Rs.3135 crore last year.
Recovery from prudentially written off accounts in 9MFY15 at Rs.1203 crore (16.29% of outstanding amount). Upgradation during 9M was at Rs.1574 crore.
Provision Coverage Ratio improved to 59.44% compared to 57.39% last year.
Net Interest Margin (NIM) (Domestic) increased to 2.36% and NIM (Global) at 2.24%.
1091 branches and 3056 ATMs added y-o-y and 893 branches and 1287 ATMs during the 9MFY15, taking the total to 5648 branches and 7599 ATMs.
Enhanced E-transactions to 45.35% from 43.75% last year.
Income and Expenses - Q3 FY15
• Total income for Q3FY15 increased to Rs.12228 crore, with a y-o-y growth of 11.8%.
• Income from loans/advances increased to Rs.8064 crore, with a y-o-y growth of 9.6%.
• Non-interest income for the quarter increased by 38.2% to Rs.1176 crore.
• Total expenses for the quarter increased by 11.6% to Rs.10431 crore. The increase in Operating Expenses was at 18.3% to Rs.1759 crore.
• Net interest income for the quarter increased by 6.9% to Rs.2380 crore.
• NIM (Domestic) improved to 2.36% from 2.35% last year and NIM (Global) improved to 2.24% from 2.21% last year.
Profits and Profitability – Q3 FY15
• Operating Profit for the quarter was at Rs.1797 crore, up by 13% y-o-y.
• Total provision for the quarter was at 1141 crore compared to 1182 crore for Q3FY14. The provision for NPAs during the quarter was Rs.952 crore.
• Net profit for Q3FY15 increased to Rs.656 crore compared to 409 crore, an increase of 60.3% y-o-y.
• While Earnings per Share (EPS) for the quarter was at 14.22, Book Value rose to Rs.554.93 compared to Rs. 518.61 as at December 2013.
First Nine Months (9M) Performance
• Operating profit rose to Rs.5218 crore compared to 4914 crore a year ago, registering a y-o-y growth of 6.2%. Net Profit for 9MFY15 aggregated to Rs.2090 crore compared to Rs.1827 crore a year ago, up by 14.4%. Rs.
• Net Interest Income increased to Rs.7178 crore, with a y-o-y growth of 12%.
• Total income rose by 12.6% to Rs.35871 crore, including 23973 crore income from loans/advances.
• Non-interest income increased to Rs. 3224 crore, up by 12.6%.
Business Performance
• Global Business of the Bank rose to 774718 crore compared to Rs.696624 crore as at December 2013, with a y-o-y growth of 11.2%.
• Global Deposits of the Bank increased to Rs.462450 crore compared to Rs.408924 crore as at December 2013, with a growth of 13.1%. Market share improved to 4.96%.
• Global Advances (Net) reached a level of 312269 crore compared to Rs.287700 crore as at December 2013, with a growth of 8.5%. Market share improved to 4.55%.
• The Bank’s domestic business constituted 94% of the total business. Total business of the foreign branches increased to Rs.46037 crore from Rs.39788 crore last year.
• The Bank’s CASA deposits to domestic deposits stood at 24.05%. The Bank’s CASA deposits increased to Rs.105019 crore as at December 2014 compared to Rs.94465 crore as at December 2013, registering a y-o-y growth of 11.2%.
• The Bank’s clientele base increased to Rs.6.32 crore, comprising Rs.5.61 crore under deposit and 71 lakh under borrowal accounts. About 93 lakh clientele added during the year.
• While Business per Employee stood at 13.78 crore, Business per Branch was at Rs.137.17 crore.
#CanaraBank Q3 net profit up by 60.3% to Rs 656 crore pic.twitter.com/Wkzp1eRFql
— Press Release Watch (@PrReleaseWatch) February 4, 2015
Major Highlights – Q3FY15
Net profit at Rs.656 crore, up by 60.3%.
Operating Profit up by 13% y-o-y to Rs.1797 crore.
Total Fee income up by 38.2% to 1176 crore from Rs.851 crore last year.
Total Business at Rs.7.75 lakh crore, up by 11.2% y-o-y.
Total Deposits at Rs.4.62 lakh crore, up by 13.1% y-o-y.
Advances (net) at Rs.3.12 lakh crore, moderated growth rate at 8.5% y-o-y.
Continued robust growth in Retail Segments – Priority Credit – (21%), Agriculture (24%), MSME (19.5%), MSE (25%), Retail Lending (22%), Direct Housing Loans (30%), Vehicle Loans (30%) and other personal loans (95%).
Gross NPA Ratio at 3.35% and net NPA Ratio at 2.42%.
Record Cash Recovery during 9M FY15 at 4427 crore compared to Rs.3135 crore last year.
Recovery from prudentially written off accounts in 9MFY15 at Rs.1203 crore (16.29% of outstanding amount). Upgradation during 9M was at Rs.1574 crore.
Provision Coverage Ratio improved to 59.44% compared to 57.39% last year.
Net Interest Margin (NIM) (Domestic) increased to 2.36% and NIM (Global) at 2.24%.
1091 branches and 3056 ATMs added y-o-y and 893 branches and 1287 ATMs during the 9MFY15, taking the total to 5648 branches and 7599 ATMs.
Enhanced E-transactions to 45.35% from 43.75% last year.
Income and Expenses - Q3 FY15
• Total income for Q3FY15 increased to Rs.12228 crore, with a y-o-y growth of 11.8%.
• Income from loans/advances increased to Rs.8064 crore, with a y-o-y growth of 9.6%.
• Non-interest income for the quarter increased by 38.2% to Rs.1176 crore.
• Total expenses for the quarter increased by 11.6% to Rs.10431 crore. The increase in Operating Expenses was at 18.3% to Rs.1759 crore.
• Net interest income for the quarter increased by 6.9% to Rs.2380 crore.
• NIM (Domestic) improved to 2.36% from 2.35% last year and NIM (Global) improved to 2.24% from 2.21% last year.
Profits and Profitability – Q3 FY15
• Operating Profit for the quarter was at Rs.1797 crore, up by 13% y-o-y.
• Total provision for the quarter was at 1141 crore compared to 1182 crore for Q3FY14. The provision for NPAs during the quarter was Rs.952 crore.
• Net profit for Q3FY15 increased to Rs.656 crore compared to 409 crore, an increase of 60.3% y-o-y.
• While Earnings per Share (EPS) for the quarter was at 14.22, Book Value rose to Rs.554.93 compared to Rs. 518.61 as at December 2013.
First Nine Months (9M) Performance
• Operating profit rose to Rs.5218 crore compared to 4914 crore a year ago, registering a y-o-y growth of 6.2%. Net Profit for 9MFY15 aggregated to Rs.2090 crore compared to Rs.1827 crore a year ago, up by 14.4%. Rs.
• Net Interest Income increased to Rs.7178 crore, with a y-o-y growth of 12%.
• Total income rose by 12.6% to Rs.35871 crore, including 23973 crore income from loans/advances.
• Non-interest income increased to Rs. 3224 crore, up by 12.6%.
Business Performance
• Global Business of the Bank rose to 774718 crore compared to Rs.696624 crore as at December 2013, with a y-o-y growth of 11.2%.
• Global Deposits of the Bank increased to Rs.462450 crore compared to Rs.408924 crore as at December 2013, with a growth of 13.1%. Market share improved to 4.96%.
• Global Advances (Net) reached a level of 312269 crore compared to Rs.287700 crore as at December 2013, with a growth of 8.5%. Market share improved to 4.55%.
• The Bank’s domestic business constituted 94% of the total business. Total business of the foreign branches increased to Rs.46037 crore from Rs.39788 crore last year.
• The Bank’s CASA deposits to domestic deposits stood at 24.05%. The Bank’s CASA deposits increased to Rs.105019 crore as at December 2014 compared to Rs.94465 crore as at December 2013, registering a y-o-y growth of 11.2%.
• The Bank’s clientele base increased to Rs.6.32 crore, comprising Rs.5.61 crore under deposit and 71 lakh under borrowal accounts. About 93 lakh clientele added during the year.
• While Business per Employee stood at 13.78 crore, Business per Branch was at Rs.137.17 crore.
