MUMBAI, 05 AUGUST, 2020 (GPN): Canara Bank – FINANCIAL RESULTS FOR QUARTER ENDED 30th JUNE’2020

KEY HIGHLIGHTS:

Key Summary of Business Performance (as on 30.06.2020)

Business

• Global Business increased by 4.01% (y.o.y) to Rs. 1560144 Cr as at June 2020 with Global Deposits at Rs. 909570 Cr (4.56% y.o.y) and Global Advance (gross) at Rs. 650574 Cr (3.25% y.o.y).

• Domestic Deposit of the Bank stood at Rs. 869635 Cr as at June 2020 with growth of                   7.66% (y.o.y).

• Domestic Advances (gross) of the Bank stood at Rs. 624172 Cr as at June 2020 with growth of 4.72% (y.o.y).

• Retail lending Portfolio increased 2.95% (y.o.y) to Rs. 112079 Cr as at June 2020

• Housing Loan Portfolio increased 10.06% y.o.y to Rs 58243 Cr

• Vehicle Loan portfolio stood at Rs 12508 Cr as at June 2020.

• Advances to Agriculture grew by 5.45% (y.o.y) to Rs. 134142 Cr as at June 2020.

Income and Profitability for Q1 FY21

• Operating Profit grew by 31.82% to Rs. 4285 Cr during Q1FY21.

• Net Profit stood at  Rs. 406 Cr during Q1FY21.

• Total Income of the Bank increased by 2.69% (y.o.y) to Rs. 20686 Cr as at Q1 FY21.

• Non-Interest Income increased by 10.51% (y.o.y) to Rs. 2650 Cr as at Q1 FY21.

• Net-Interest Income grew by 21.11% (y.o.y) to Rs. 6096 Cr as at Q1 FY21.

Asset Quality

• Gross Non-Performing Assets (GNPA) ratio reduced to 8.84% as at June 2020 down from 9.39% as at March 2020 and 10.28% as at June 2019.

• Net Non-Performing Assets (NNPA) ratio reduced to 3.95% as at June 2020 down from 4.34% as at March 2020 and 5.87% as at June 2019.

• Provision Coverage Ratio (PCR) improved to 78.95% as at June 2020 from 68.75% as at June 2019.

Capital Adequacy

• CRAR as on June 2020 improved to 12.77% from 12.31% as at June 2019. Out of which Tier-I is 9.29% and Tier-II is 3.48% as at June 2020.

Priority Sector & Financial Inclusion

• The Bank has achieved Targets in Priority Sector and Agricultural Credit at 45.86% and 20.87% of ANBC as at June 2020, as against the mandatory target of 40% and 18% respectively.

• Credit to Weaker Sections stood at 19.40% of ANBC, exceeding the target of 10%.

• Credit to women beneficiaries as on June 2020  at Rs. 82880 Cr (14.40 % of ANBC as against the target of 5%).

• Bank has opened 133 lakhs accounts under PMJDY and mobilised CASA deposits of Rs. 5541 Cr as at June 2020.

Network

• As on 30.06.2020, the Bank has 10451 number of Branches, 3079 Rural , 3175  Semi- Urban, 2073 Urban & 2124 Metro along with 13401 ATMs . ENDS

About Canara Bank:

Widely known for its customer centricity, Canara Bank was founded by Shri Ammembal Subba Rao Pai, a great visionary and philanthropist, in July 1906, at Mangalore, then a small port town in Karnataka. The Bank has gone through various phases of growth trajectory over hundred years of its existence. Growth of Canara Bank was phenomenal, especially after nationalization in the year 1969, attaining the status of a national level player in terms of geographical reach and clientele segments. Eighties period was characterized by business diversification. In June 2006, the Bank completed a century of operations in the Indian banking industry. The eventful journey of the Bank has been characterized by several memorable milestones.

After amalgamation of Syndicate Bank into Canara Bank on 01.04.2020, the bank has attained the position of 4th largest Public Sector Bank in the country with a total business of Rs. 15, 53,792 crores. With 10403 domestic branches, 13448 ATMs and about 6000 Business Correspondents, the Bank has got unparalleled potential to become the numero uno nationalized bank in the country with a premier position in the comity of Indian banks.