Canbank Q1 net profit up 2.19% at ₹4856 cr.
Canara Bank reported a 2.19% increase in Q1 net profit to ₹4,856 crore, with Net Interest Income surpassing ₹10,000 crore for the first time. The bank also saw significant growth in retail, agriculture, and MSME credit portfolios alongside improved asset quality.
Why it matters
Strong financial performance from a major public sector bank indicates robust credit demand and improved asset health in the Indian banking sector.
Canara Bank on Monday posted a first quarter (FY27) net profit of ₹4856 crore, a 2.19% increase over the ₹4,752 crore it reported in the corresponding quarter a year ago.
Net Interest Income (NII) crossed the ₹10,000 crore mark for the first time ever, finishing the quarter at ₹10,215 crore, posting a 13.39% growth over ₹9,009 crore a year ago, according to the lender’s new MD & CEO Brajesh Kumar Singh.
Its net interest income (NII) grew 13.39% YoY ₹10,215 crore, while total income rose 4.26% to ₹39,684 crore. Global business grew ₹ 29,05,066 crore at 14.37% YoY; global deposits stood ₹16,11,685 crore rose by 11.63% and global advances stood at ₹12,93,381 crore up by 17.97%.
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