<p>Bengaluru: Bengaluru-based Canara Bank on Thursday reported a rise of 33.19% in its net profit to Rs 5,004 crore in the January to March quarter (Q4) of the financial year 2024-25 (FY25), compared to the same quarter in the previous year. </p><p>This is the first time Canara Bank has seen a net profit above Rs 5,000 crore in a quarter, highlighted K Satyanarayana Raju, Managing Director and CEO of Canara Bank, in a post-earnings briefing. He noted major contributions to quarterly profit were non-interest income and recovery in technical written-off accounts.</p><p>The state-run lender also noted a 9.78% year-on-year (YoY) increase in total income to Rs 37,353 crore in the quarter.</p>.Canara HSBC Life Insurance files IPO papers; Canara Bank, PNB to divest stakes.<p>However, key profitability metric net interest income (NII) fell by 1.44% YoY to Rs 9,442 crore in Q4. Raju attributed the dip to the RBI’s rate cut as well as regulatory requirements due to the RBI’s reclassification of penal interest last year. </p><p>The bank’s net interest margin (NIM) dipped to 2.73% in March 2025, down from 3.07% in March 2024. </p><p>The lender’s gross non-performing assets (GNPA) ratio was 2.94%, showing a notable YoY improvement by 129 basis points (bps). Its net non-performing assets (NNPA) ratio came to 0.7%, improving by 57 bps since Q4 FY24.</p><p>The bank’s domestic deposits were at Rs 13.31 lakh crore as of March 2025 with a 9.56% YoY growth. Its global deposits stood at Rs 14.57 lakh crore with an 11.01% YoY growth.</p>.<p>The Board of Directors has recommended a dividend of Rs 4 per equity share (200% of the face value of Rs 2 per share) for FY25, subject to requisite approvals.</p><p>The bank has 9,849 branches, along with four overseas branches. “In the last two years, we have opened 250 branches. This year also, we are opening 250 branches for which we have already issued 110 licenses. The remaining will be completed in another month’s time,” said Raju.</p><p>On the hiring front, the bank recruited over 3,000 people in the previous year. For this year, it will recruit another 3,000 people or so, he added.</p>
<p>Bengaluru: Bengaluru-based Canara Bank on Thursday reported a rise of 33.19% in its net profit to Rs 5,004 crore in the January to March quarter (Q4) of the financial year 2024-25 (FY25), compared to the same quarter in the previous year. </p><p>This is the first time Canara Bank has seen a net profit above Rs 5,000 crore in a quarter, highlighted K Satyanarayana Raju, Managing Director and CEO of Canara Bank, in a post-earnings briefing. He noted major contributions to quarterly profit were non-interest income and recovery in technical written-off accounts.</p><p>The state-run lender also noted a 9.78% year-on-year (YoY) increase in total income to Rs 37,353 crore in the quarter.</p>.Canara HSBC Life Insurance files IPO papers; Canara Bank, PNB to divest stakes.<p>However, key profitability metric net interest income (NII) fell by 1.44% YoY to Rs 9,442 crore in Q4. Raju attributed the dip to the RBI’s rate cut as well as regulatory requirements due to the RBI’s reclassification of penal interest last year. </p><p>The bank’s net interest margin (NIM) dipped to 2.73% in March 2025, down from 3.07% in March 2024. </p><p>The lender’s gross non-performing assets (GNPA) ratio was 2.94%, showing a notable YoY improvement by 129 basis points (bps). Its net non-performing assets (NNPA) ratio came to 0.7%, improving by 57 bps since Q4 FY24.</p><p>The bank’s domestic deposits were at Rs 13.31 lakh crore as of March 2025 with a 9.56% YoY growth. Its global deposits stood at Rs 14.57 lakh crore with an 11.01% YoY growth.</p>.<p>The Board of Directors has recommended a dividend of Rs 4 per equity share (200% of the face value of Rs 2 per share) for FY25, subject to requisite approvals.</p><p>The bank has 9,849 branches, along with four overseas branches. “In the last two years, we have opened 250 branches. This year also, we are opening 250 branches for which we have already issued 110 licenses. The remaining will be completed in another month’s time,” said Raju.</p><p>On the hiring front, the bank recruited over 3,000 people in the previous year. For this year, it will recruit another 3,000 people or so, he added.</p>