#Canara Bank Q3 net profit drops 87% to Rs 85 crore on higher provisions

Bangalore-based Canara Bank today reported a whopping 87 per cent drop in net profit at Rs 84.9 crore for the third quarter of 2015-16 on account of higher provisioning.Total provisions, excluding for income tax, made during the third quarter were Rs 1,428.85 crore as against Rs 841.33 crore in the year-ago period. The bank has reported fresh slippages of Rs 5400 crore during this quarter.

#Canara Bank Q3 net profit drops 87% to Rs 85 crore on higher provisions pic.twitter.com/Bwzm0TxwbL

— Press Release Watch (@PrReleaseWatch) February 12, 2016

Q3 Highlights:

•    Operating Profit for the quarter stood at  1552 crore.
•    Total provisions increased to  1467 crore compared to  1141 crore last year, including provisions for NPAs at  1432 crore vis-à-vis Rs.952 crore last year.
•    Due to increased provisions, net profit for the quarter came down to  85 crore compared to  656 crore last year.
•    Net Interest Margin (NIM) (Domestic) was at 2.29% and NIM (Global) at 2.16%.
•    Cost-income ratio marginally improved to 49.46% from 49.84% last year.

#Canara Bank signs MouU with #NCDEX for #agri loan financing

Harideesh Kumar B, Executive Director of Canara Bank said that this is a mutually beneficial tie-up as we now have one more channel to lend against Warehouse Receipts at reasonable rates of interest.. Speaking on the occasion, S S Bhat, Chief General Manager of Canara Bank has highlighted importance of Produce Loan Financing and said that this MOU will go a long way in helping the farmer clientele of Canara Bank. The MOU will be win-win situation for all the parties.

#Canara Bank signs MouU with #NCDEX for #agri loan financing pic.twitter.com/Rc9ImLssHx

— Press Release Watch (@PrReleaseWatch) February 11, 2016

This will facilitate financing to farmer clientele  of Canara Bank, against Ware House Receipts issued by WSPs.NCDEX is a leading national level electronic commodity spot market in the country offering on-line screen based spot trading system, which enables farmers to sell their produce online by way of bidding on NCDEX Platform and get better price realization for their produce.

#Canara Bank honours eminent #Kanada personalities on 67th #RepublicDay

One  of the most sought after Kanada director on the small screen, T N Seetharam along with some other eminent personalities from the field of art and culture and sports were honoured by Canara Bank on the occasion of 67th Republic Day.H G Somashekar Rao, Kannada Rajyotsava Awardee, Dr M A Balasubramanya, CEO, Swami Vivekananda Youth Movement (SVYM), Pandit Satish Hampiholi & Smt Sneha Hampiholi, Sri Jayadeeban Ramamoorthy, para badminton player were also honoured on this occasion.

#Canara Bank honours eminent #Kanada personalities on 67th #RepublicDay pic.twitter.com/P4gmvJ8LXr

— Press Release Watch (@PrReleaseWatch) January 26, 2016

Meritorious girl students from Government Schools were handed over scholarships under Canara Vidya Jyothi  Scholarship scheme, a CSR initiatives of the Bank.T N Seetharam last directed Mahaparva, which was aired on ETV Kannada some time back.

110th Founder’s Day of @canarabanktweet

110th Founder’s Day of @canarabanktweet pic.twitter.com/GljsY5h5fp

— Press Release Watch (@PrReleaseWatch) November 20, 2015

On this occasion the chief guest the acting Chief Justice of High Court of Karnataka Justice Subhro Kamal Mukherjee inaugurated 51 branches across  the country. He also distributed sanction letters to a cross section of customers under different segments.The bank also launched a new Banking App and mWallet for fund transfer.

#Canara Bank launches #Galaxy account

Canara Galaxy will provide an integrated platform on single window for SB and Demat (provided by Canara Bank) and On-line Trading (provided by M/s Canara Bank Securities Limited) wherein the OLT account interfaces with the SB account seamlessly in secured environment. M/s CBSL, a wholly owned subsidiary of Canara Bank provides wide range of Equity, Derivative & Currency trading services - Dial2Trade, CNC, IDT, CDS, F&O along with investment research services to all its customers. The Galaxy account holders will be provided with  Rs. Five Lac Personal Accidental Insurance cover by the Bank free of cost for the first year

#Canara Bank launches #Galaxy account pic.twitter.com/u0zs43tStd

— Press Release Watch (@PrReleaseWatch) October 18, 2015

According to a press release by Canara Bank it has recently introduced various other customer friendly premium products such as Canara SB Power Plus, Privilege Current Account, Jeevandhara, Payroll, Defence & Dhanvarsha - Recurring Deposit with flexibility. All these are available at all branches of Canara Bank.

Rakesh Sharma is the new MD and CEO of #Canara Bank

Bangalore headquartered Canara Bank today said that Rakesh Sharma has assumed charge as its Managing Director and Chief Executive Officer.

Rakesh Sharma is the new MD and CEO of #Canara Bank pic.twitter.com/1hUoeHxek6

— Press Release Watch (@PrReleaseWatch) September 11, 2015

Before joining Canara Bank, Sharma was MD and CEO of Lakshmi Vilas Bank. In their new assignment, Sharma would earn around Rs 24 lakh annually as salary, excluding other parks,accoding to sources in banking sector.

#Canara Bank pays Rs.348.81 cr. dividend to Govt of India for the FY 2014-15

#Canara Bank pays Rs.348.81 cr. dividend to Govt of India for the FY 2014-15 pic.twitter.com/nXIOnywD5X

— Press Release Watch (@PrReleaseWatch) July 25, 2015

Canara Bank has paid a dividend of Rs.348.81 crores to the Govt of India for the financial year 2014-15.Canara Bank's Executive Directors P S Rawat and Harideesh Kumar B handing over Dividend cheque of Rs.348.81 crores to Union Finance Minister Arun Jaitely at New Delhi on 23.07.2015.

Canara Bank signs MoU with LIC & United India Insurance to cover PMJJBY

Canara Bank has entered into Memorandum of Understanding (MOU)  with  LIC of India for offering Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) Insurance cover and United India Insurance Co. Ltd (UIICL) for Pradhan Mantri Suraksha Bima Yojana (PMSBY) Insurance cover to all its eligible Customers.

@canarabanktweet signs MoU with #LIC & United India Insurance to cover #PMJJBY pic.twitter.com/WuIJndNyEu
— Press Release Watch (@PrReleaseWatch) April 29, 2015

Under the Memorandum of Understanding, LIC will offer a life cover of Rs 2 lakh in case of death of the insured person at a nominal premium of Rs 330 per annum. All Savings Bank Account holders in the age group of 18 to 50 years can avail the product. People who join the scheme before completing 50 years can continue to have the risk of life cover up to the age of 55 years subject to payment of premium. United India Insurance will give Accident Insurance Scheme offering accidental death and disability cover for death or disability on account of an accident

International Women’s Day at event at #Canara Bank HO.

International Women’s Day at event at #Canara Bank HO. pic.twitter.com/6lm0n6N1GS
— Press Release Watch (@PrReleaseWatch) March 10, 2015

Canara Bank, India's leading nationalized Bank has celebrated International Women’s Day at its Head Office, Bangalore.  Smt.Tejaswini Ananth Kumar, President, Adamya Chethana, Ms.Suman Kittur, Film Director were  the chief guests. Bank's Managing Director and CEO Sri V.S.Krishna Kumar, Sri P.S.Rawat, Executive Director and Sri S.S.Bhat, Chief General Manager were present on the occasion.

#CanaraBank Q3 net profit up by 60.3% to Rs.656 crore

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.

#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. 

National Bulk Handling Corporation signs MOU with #CANARABANK

National Bulk Handling Corporation (NBHC, an India Value Fund owned company) India’s leading warehousing, commodity and collateral management service provider has entered into a memorandum of understanding (MoU) with Canara Bank to extend Collateral Management services.

These services will not only bring farmers into the formal banking system but also enable them to avail of credit at concessional rates as loans will be offered against reliable collateral.
 

National Bulk Handling Corporation signs MOU with #CANARABANK pic.twitter.com/Z0fMBRycxt
— Press Release Watch (@PrReleaseWatch) February 4, 2015

The MoU was signed yesterday at the headquarters of Canara Bank in Bangalore. This development will help NBHC expand its services across additional geographies as well enable it to manage more commodities. It currently handles Rs.6,500 crore worth of agri commodities on an average through its owned, leased, franchisee and accredited warehouses throughout India. NBHC has expertise in managing over 190 commodities which include grains, and cash crops such as cotton and various non-agri commodities.

Banks have been building their portfolio of Warehouse Receipt Finance but the challenges remain in terms of verification and management of the quantity and quality of the crops. An institution like NBHC is able to give comfort on the basis of the receipts issued which certifies the quantity and quality of the commodity.Farmers are now able to access credit at affordable rates of interest from institutions like Canara Bank instead of relying on unorganised sources.

With a pan-India network of 1450+ warehouses across 17 states and about 1.50 million tonnes of warehousing capacity and over 50 facilities Pan India for quality testing and pest management services, NBHC caters to customers ranging from farmers, processor, traders, domestic & international corporates, commodity exchanges as well as 44 banks.

NBHC spans its services across the eco-system, in aggregate managed about Rs 65000 crores of assets for 44 Banks, enabling post-harvest agri-credit of about Rs 45,000 crores with a dedicated focus for the farmer on last mile. In terms of quantity the Company has managed about 27 MMT for Banks alone and carried out preventive treatment/ fumigation of about 42 MMT of commodities.

Speaking on the occasion, Mr. Anil Choudhary, Managing Director and CEO, NBHC said, “This association will bring immense value to the commodity ecosystem. The biggest advantage to borrowers comes in terms of securing credit at reasonable rates of interest. This is yet another step in attracting institutional finance in the sector which is critical for its stability”

“This is a mutually beneficial tie up as we now have one more channel to lend against Warehouse Receipts at reasonable rates ofinterest. This tie up will allow us to confidently grow our services. NBHC has expertise to manage the risks of commodity storage & disposal.” said Sri V.S.Krishna Kumar, MD & CEO of Canara Bank.

Sri P.S.Rawat, Executive Director, Canara Bank said that Canara Bank already lends more than Rs 9,000 crore through KisanCredit Cards (KCC).The tie up with NBHC will enable farmers now to riase finance which can be used for maintaining the crops in a better environment which in turn will translate into better realizations.

Sri S.S.Bhat, Chief General Manager, Canara Bank was also present on the occasion.
 

@canarabanktweet raises Interest rate on bulk deposits above Rs 1 cr.

@canarabanktweet raises Interest rate on bulk deposits above Rs 1 cr.
— Press Release Watch (@PrReleaseWatch) December 9, 2014

Canara Bank raises Interest rate on bulk deposits above Rs 1 crore by 75 basis points w.e.f. 10.12.2014 

#CanaraBank plans Micro Enterprises Business Centres in 47 locations across India

#CanaraBank plans Micro Enterprises Business Centres in 47 locations across India pic.twitter.com/0BhmtNx7Kp
— Press Release Watch (@PrReleaseWatch) November 18, 2014

These Centres shall be functioning from the Circles offices of the Bank located in 47 centres and shall act as a Nodal point for all matters relating to micro enterprises segment including various government schemes under the segment such as PMEGP, Weavers Credit Card Scheme, National Urban Livelihood Mission etc.
Micro Enterprises Business Centres shall also be handling the business development functions of the Bank under micro enterprises, mentoring and handholding of micro entrepreneurs, conducting financial literacy and awareness camps and also function as a follow up and monitoring cell for advances under micro enterprises.
Identifying the aspiring entrepreneurs for entrepreneurial and skill development training, sponsoring them to the various training institutes of the Bank and post training handholding shall also be undertaken by the Micro Enterprise Business Centres.

Canara Bank is a premier nationalized bank having presence in over 5500 locations in India and with an exposure of over Rs.55000 crores for MSME sector,

#CanaraBank has introduced JUNIOR SAVINGS ACCOUNT

#CanaraBank has introduced JUNIOR SAVINGS ACCOUNT pic.twitter.com/2KT0xZdqOf
— Press Release Watch (@PrReleaseWatch) November 18, 2014

Canara Bank on the occasion of Children’s Day on 14th November has introduced CANARA JUNIOR SAVINGS ACCOUNT.The Product is launched in the light of RBI guidelines to catch the generation YOUNG. The minor would be issued with a specially designed personalized JUNIOR DEBIT CARD – RUPAY in their name. The new product has received good response all over the country.The bank has also recently introduced various other customer friendly premium products such as Canara SB Powerplus, Canara Privilege Current Account & Dhanvarsha Recurring Deposit with flexibility. All these are available at all branches of Canara Bank.

#Canara Bank Q2 net flat at Rs 627 cr due to higher provisioning

Bangalore headquartered Canara Bank has reported a marginal increase in net profit at Rs. 627 crore for the September quarter due to higher provisions. The bank had reported a net profit of Rs. 626 crore in the corresponding quarter last year.Total provision for the quarter was at  999 crore compared to  Rs.799 crore for Q2FY14. The provision for NPAs during the quarter was  Rs.912 crore. Operating Profit for the quarter was at  Rs.1626 crore, up by 14.1% y-o-y. The total income for the quarter increased 14.2% to Rs 11,915 crore compared to Rs 10,427 crore in the second quarter of FY14. Net interest income for the quarter increased by 8.1% to  Rs.2368 crore

#Canara Bank to raise Rs 3,000 crore through a QIP in Q3 pic.twitter.com/Z4pez3vLmf
— Press Release Watch (@PrReleaseWatch) November 6, 2014

"During this quarter, we have seen fresh slippage to the tune of Rs 3,178 crore. As a result We have provided Rs 814 crore compared to Rs 674 crore in the corresponding quarter. This impacted our net profit during the quarter," the bank's executive directors Krishna Kumar and P S Rawat said
The Bank has received all the approvals from the government to raise Rs 3,000 crore through a QIP issue during the third quarter but yet to approach institutional investors for the QIP.

Other highlights of Q2

 Record Cash Recovery at  3213 crore in H1 compared to  1923 crore last year.
 Gross NPA Ratio contained at below 3% at 2.92% and net NPA ratio at 2.31%, despite continuing stressed scenario at the industry level.
 Recovery from prudentially written off accounts in H1FY15 at  1065 crore (14.42% of outstanding amount). Upgradation during H1 was at  1197 crore.
 Provision Coverage ratio increased to 58.68% from 57.77% last year.
 Total Fee income up by 32.1% to  1021 crore from  773 crore last year.
 Total Business up by 14.8% y-o-y to  7.72 lakh crore.
 Total Deposits up by 17.8% y-o-y to  4.61 lakh crore.
 Advances (net) up by 10.6% y-o-y to  3.11 lakh crore.
 Continued robust growth in retail business - MSME (27%), MSE (30%), Retail Lending (28%), Direct Housing Loans (37%), Vehicle Loans (49%) and other personal loans (101%).
 504 branches and 586 ATMs added during the Q2FY15, taking the total to 5514 branches and 7095 ATMs.
 Enhanced E-transactions to 44.99% from 42% last year.
 Income from loans/advances for Q2 FY15 rose by 14.9% to  8005 crore.
 Net Interest Income for Q2 FY15 at  2368 crore, increased by 8.1% y-o-y.
 Net Interest Margin (NIM) (Domestic) at 2.36% and NIM (Global) at 2.24%.

#Canara Bank to to raise Rs 1,500 cr by private placement of bonds

Canara Bank to to raise Rs 1,500 cr by private placement of bonds pic.twitter.com/R4V2N9nn4z
— Press Release Watch (@PrReleaseWatch) October 7, 2014

State-owned Canara Bank has said it plans to raise Rs 1,500 crore via additional tier-I bonds to augment its capital base.The bank has decided to raise additional capital of Rs 1,500 crore via private placement of bonds

#Canara Bank's Q1 net profit at Rs.807 cr up by Rs.15 cr

Bangalore-based PSU entity Canara Bank has reported a mere 1.9% growth in net profit at Rs 807 crore for the first quarter ended June 30, 2014 compared to Rs 792 crore in the corresponding quarter last year.The Bank has recorded net profit in excess of Rs 800 crore after eight quarters mainly due to higher provisioning."Our provision coverage ratio is now 60% from 58% a year ago," said R K Dubey, Chairman and Managing Director of Canara Bank.

Other major result highlights are:-
Cash Recovery at  2019 crore in Q1 more than doubled compared to  888 crore last year.
    Gross NPA Ratio down to 2.67% from 2.91% as at June 2013.
    Net NPA ratio down to 2.03% from 2.48% as at June 2013.
    Recovery from technically written off accounts at  Rs.867 crore (11.7% of outstanding amount).  Upgradation during the quarter was at  Rs.535 crore.
    Provision Coverage ratio increased to 60.10% from 58.18% last year.
    Core Fee income (excluding Treasury Profit) up by 18% to  936 crore from  795 crore last year.
    Total Business up by over  Rs.1.00 lakh crore (15.8% y-o-y) to  Rs.7.32 lakh crore.
    Total Deposits up by 12.3% y-o-y to  4.29 lakh crore.
    CASA ratio (domestic) at 24.15%, same level as last year.
    Advances (net) up by 21.2% y-o-y to  3.03 lakh crore.
    Continued robust growth in retail business- MSME (33%), MSE (33%), Retail Lending (43%), Housing Loans (41%) and other personal loans (69%), of which Vehicle Loans (59%).
    255 branches and 197 ATMs added during the Q1FY15, taking the total to 5010 branches and 6509 ATMs.
    Enhanced E-transactions to 44.34% from 33.94% last year.
    Income from loans/advances for Q1 FY15 rose by 22.6% to  7905 crore.
    Net Interest Income for Q1 FY15 at  2429 crore, increased by 22% y-o-y.
    Net Interest Margin (NIM) (Domestic) improved to 2.42% from 2.33% in Q1FY14 and 2.40% in Q4FY14.  NIM (Global) improved to 2.30% from 2.21% in Q1 FY14 and 2.27% in Q4FY14.
    With a total provision of  Rs.988 crore in Q1 FY15, Net profit for the quarter increased to  807 crore.

Income and Expenses- Q1 FY15
•    Total income for Q1FY15 increased to Rs. 11728 crore, with a y-o-y growth of 11.6%.
•    Income from loans/advances increased to  Rs.7905 crore from  6450 crore for Q1FY14.
•    While non-interest income for the quarter stood at  Rs.1027 crore, core fee income (excl Treasury Profit) increased by 18% to  936 crore.
•    Total expenses for the quarter increased by 15.4% to  9933 crore.
•    Net interest income for the quarter recorded a healthy growth of 22% y-o-y to  2429 crore.
•    Net Interest Margin (NIM) (Domestic) improved to 2.42% from 2.33% in Q1FY14 and 2.40% in Q4FY14.  NIM (Global) improved to 2.30% from 2.21% in Q1 FY14 and 2.27% in Q4FY14.
The Chairman said the Bank would be raising Rs 3,000 crore via Qualified Institutional Placement (QIP) issue during the second quarter to shore up its Tier-I Capital.

Profits and Profitability – Q1 FY15
•    Total provision for the quarter was at  Rs.988 crore compared to  Rs.1106 crore for Q1FY14 and  1271 crore for Q4FY14. The provision for NPAs during the quarter was Rs.1125 crore.
•    With an operating profit of  Rs 1795 crore, Net profit for Q1FY15 increased by 32.1% to  807 crore sequentially over Q4FY14.
•    While Earnings per Share (EPS) for the quarter was at  18.21, Book Value rose to  521.68 compared to  509.48 as at June 2013.

Business Performance
•    Global Business of the Bank rose to  Rs.731940 crore compared to  Rs.631863 crore as at June 2013, with a y-o-y growth of 15.8%.
•    Global Deposits of the Bank increased to  Rs.428976 crore compared to  Rs.381972 crore as at June 2013, with a growth of 12.3%.
•    Global Advances (Net) reached a level of  Rs.302964 crore compared to  Rs.249891 crore as at June 2013, with a growth of 21.2%.
•    The Bank’s domestic business constituted over 94% of the total business. Total business of the foreign branches increased to  Rs.41194 crore from  Rs.35480 crore y-o-y.
•    The Bank’s CASA deposits to domestic deposits was maintained at 24.15%, same level as last year. The Bank’s savings deposits reached  81594 crore as at June 2014 compared to  73938 crore as at June 2013.
•    The Bank’s clientele base increased to 5.65 crore, comprising 4.98 crore under deposit and 67 lakh under borrowal accounts. Over 66 lakh clientele added during the year.
•    While Business per Employee increased to  14.42 crore from  13.89 crore last year, Business per Branch stood at  146.1 crore.

Canara Bank celebrates Bank Nationalization Day, 19th July, 2014 by open-ing 108 Financial Inclusion Branches. pic.twitter.com/WLuBShDmUg
— Canara Bank (@canarabanktweet) July 21, 2014

Capital Adequacy under New Basel III norms
•    Capital Adequacy Ratio as per Basel III norms stood at 10.23% (as against mandatory requirement of 9%). CET ratio at 7.12% (against mandatory requirement of 5.5%) and Tier I ratio of 7.39% (as against mandatory requirement of 7%).
•    Adequate headroom available to raise capital to support business growth momentum. Government shareholding is at 69%.
Asset Quality
•    The Bank performed better under asset quality. The Bank’s gross NPA stood at  8160 crore, with a gross NPA ratio of 2.67% lower compared to 2.91% last year.
•    Net NPA stood at  6150 crore, with a net NPA ratio of 2.03% lower compared to 2.48% last year.
•    Cash Recovery during Q1FY15 aggregated to a record  2019 crore compared to  888 crore for the same quarter a year ago.
•    The Bank’s outstanding restructured portfolio at  24000 crore constituted 7.8% for the gross advances. 
Diversified Credit Portfolio
•    Outstanding advances to various Priority Segments rose to  103694 crore compared to  83085 crore as at June 2013, registering a growth of 24.8% y-o-y.
•    Advances under Agriculture portfolio increased by 24.6% to reach  53956 crore, achieving 18.66% to ANBC as against mandated target of 18%.
•    Credit to Micro, Small and Medium Enterprises (MSMEs) reached  49316 crore, with a y-o-y growth of 32.7%.  
•    Credit to M&SE reached  37186 crore, with a y-o-y growth of 33.4% (against mandated norm of 20%). The number of micro enterprises accounts recorded a growth of 63.3% against mandated norm of 10%.
•    Credit to women beneficiaries increased to  37173 crore (15.95% against 5% norm).
•    Retail lending portfolio increased to  36197 crore, with a y-o-y growth of 43.5%.  The share of retail credit in net credit increased to 12.62% compared to 10.71% last year.
•    Outstanding housing loan portfolio increased to  20347 crore, constituting over 56% of the total retail lending portfolio.
•    Other Personal Loans grew by 69% to  10804 crore, of which, Vehicle loans registered a growth of 59.5% to reach  3335 crore.

#Canara Bank to give Rs 1,170 crore term loan to #Kochi Metro Rail project

Kochi Metro Rail Ltd (KMRL) and Canara Bank has signed a term loan agreement for Rs 1,170 crore. The project is estimated to cost Rs 5,181 crore with Rs 2,170 crore coming from other sources.Canara Bank loan is for a term of 19.5 years with a moratorium of 7 years. The rate of interest will be 10.80% floating.
KMRL has already signed an agreement with the French development agency, Agence Francaise de Development (AFD), for 180 million Euros (approximately Rs 1,500 crore) on February 8.

#KMRL to sign pact with Canara Bank pic.twitter.com/2UXf8zvMc9
— Kochi Metro Rail (@MetroRailKochi) July 17, 2014

Canara Bank chairman and managing director R K Dubey has said that Canara Bank will support to various infrastructure projects undertaken by the state government including "Kannur airport and other projects being implemented in Thiruvananthapuram and elsewhere in the state". This includes monorail projects planned in Thiruvananthapuram and Kozhikode. The bank has also promised to provide further assistance if required for the Metro.
“With the robust financial assistance through a balanced mix of external and domestic funding from two of the most reputed funding agencies, KMRL can now go ahead confidently with the project implementation. This will boost the confidence of stakeholders of the project and would enable us to rope in the best resources for the project at a competitive price ”, said Shri. Elias George, MD, KMRL.

The agreement was signed in the presence of R.K. Dubey, CMD Canara Bank , Shri. Elias George, MD, KMRL and Shri. Aryadan Mohammed, Minister for Power and Railways, Government of Kerala.

#CanaraBank opens its First Banking Kiosk in #Bangalore

Canara Bank in association with M/s. Geosansar Advisors (P) Ltd. opens its First Banking Kiosk in Bangalore. pic.twitter.com/AEslqFi6jy
— Press Release Watch (@PrReleaseWatch) July 16, 2014

#Canara Bank Brand Ambassador Shikhar Dhawan wins CEAT ODI Player of the Year 2014

Canara Bank Brand Ambassador Shikhar Dhawan wins CEAT ODI Player of the Year 2014.