Page 7 - Canara Bank

Canara Bank's Q1 net rises 10.5% to Rs 3,905 cr; NII expands 5.7%

NIMs under pressure; dip by 15 bps to 2.90%

Canara Bank's Q1 net rises 10.5% to Rs 3,905 cr; NII expands 5.7%

NIMs under pressure; dip by 15 bps to 2.90%

Public-sector banks make beeline for fundraise via infrastructure bonds

Canara Bank raises Rs 10,000 crore at 7.4% through 10-yr bonds

Canara Bank plans to raise Rs 10K cr through infrastructure bonds in FY25

A Canara Bank official said it expects to raise part of this amount this quarter (Q2FY25) itself, subject to market conditions. It is part of the efforts to diversify sources of funding

Canara Bank's official X account 'compromised', investigation underway

Bank advised users not to post anything on its X page. The bank page has 0.25 million followers

Fund managers pruned PSU exposure ahead of election result-day crash

Sold shares of 9 PSUs worth Rs 9,570 crore in May

Stocks to watch on June 03: Canara Bank, Coal India, NTPC, Ashoka Buildcon

Stocks to watch on June 03: Coal India reported a 7.5 per cent increase in coal production for May, reaching 64.4 million tonnes year-on-year

Canara Bank says it will raise up to Rs 8,500 cr in debt capital in FY25

State-owned lender to sell 14.5% stake in life insurance subsidiary via IPO

Canara Bank board okays fund raising of Rs 8,500 cr through bonds in FY25

State-owned Canara Bank on Friday said the board of the bank has given approval for raising Rs 8,500 crore through bonds to fund business growth in 2024-25. The decision in this respect was taken in a meeting held on Friday. The board of the bank has approved raising Capital through Basel III Compliant Additional Tier I Bonds to the extent of Rs 4,000 crore subject to market conditions and necessary approvals, Canara Bank said in a regulatory filing. Besides, it approved raising funds through Basel III Compliant Tier II Bonds to the extent of Rs 4,500 crore, it said.

Finance Ministry asks PSBs to review their IT disaster preparedness

Initially, the government directed major banks such as SBI, BOB and Canara Bank to assess their disaster recovery systems

Canara Bank, JSW Energy among companies getting added to MSCI indexes

India's Canara Bank, Indonesian chemical firm Chandra Asri Pacific and Indian power generator JSW Energy will be the three largest additions to the MSCI emerging markets index

Canara Bank jumps 5% post stock split; up 8% in last three sessions

Canara Bank stock split: Canara Bank has fixed May 15, 2024 as the record date for determining entitlement of equity shareholders for the purpose of sub division/ split of existing equity shares

Shares of Union Bank, Indian Bank, and BoI jump up to 5%: here's why

On an index level, Nifty PSU Bank was the top sectoral performer of the day on NSE jumping 2 per cent at 7,207 levels in intraday trade

Corporate loan rejig underway to improve margins: Canara Bank MD & CEO

Raju says the bank expects to improve net interest margin (NIM) on completion of this corporate loan rejig

Q4 Results update: Canara Bank profit surges 18% to Rs 3,757 crore

State-owned Canara Bank on Wednesday reported an 18 per cent rise in its net profit to Rs 3,757 crore during the fourth quarter ended March 2024. The Bengaluru-based lender had earned a net profit of Rs 3,175 crore in the year-ago period. During the quarter, the bank's total income increased to Rs 34,025 crore as against Rs 28,685 crore a year ago, Canara Bank said in a regulatory filing. Interest income grew to Rs 28,807 crore during the period under review from Rs 23,910 crore in the corresponding quarter a year ago. The bank's board recommended a dividend of Rs 16.10 per equity share (i.e., 161 per cent) of face value of Rs 10 each to the shareholders for 2023-24, subject to approval at the ensuing Annual General Meeting. On the asset quality side, the bank's Gross Non-Performing Assets (NPAs) moderated to 4.23 per cent of gross advances as of March 31, 2024, from 5.35 per cent by the end of March 2023. Net NPAs also came down to 1.27 per cent of the advances from 1.73 per cen

Q4 Results update: Canara Bank profit surges 18% to Rs 3,757 crore

State-owned Canara Bank on Wednesday reported an 18 per cent rise in its net profit to Rs 3,757 crore during the fourth quarter ended March 2024. The Bengaluru-based lender had earned a net profit of Rs 3,175 crore in the year-ago period. During the quarter, the bank's total income increased to Rs 34,025 crore as against Rs 28,685 crore a year ago, Canara Bank said in a regulatory filing. Interest income grew to Rs 28,807 crore during the period under review from Rs 23,910 crore in the corresponding quarter a year ago. The bank's board recommended a dividend of Rs 16.10 per equity share (i.e., 161 per cent) of face value of Rs 10 each to the shareholders for 2023-24, subject to approval at the ensuing Annual General Meeting. On the asset quality side, the bank's Gross Non-Performing Assets (NPAs) moderated to 4.23 per cent of gross advances as of March 31, 2024, from 5.35 per cent by the end of March 2023. Net NPAs also came down to 1.27 per cent of the advances from 1.73 per cen

Canara Bank Q4 result: Net profit increases by 18% to Rs 3,557 cr

Minimal impact expected from RBI's draft project finance norms

State-owned Canara Bank fixes record date of May 15 for stock split

State-owned Canara Bank on Friday said it has fixed May 15 as record date for determining shareholders' eligibility for stock split. The stock split is being done with an objective to improve liquidity of the stock. In February, the bank's board had approved splitting existing shares of face value of Rs 10 each into 5 shares having a face value of Rs 2 each, fully paid up, ranking pari-passu in all respects, Canara Bank said in a regulatory filing. The Reserve Bank of India (RBI) gave its go-ahead for stock split on April 16, 2024, it said. Shares of Canara Bank were trading at Rs 577.15 apiece, down 1.10 per cent on the BSE in the afternoon trade. The government owns 62.93 per cent stake in Canara Bank, while public shareholders own the rest.

Canara Bank launches loan products to meet hospitalisation expenses

State-owned Canara Bank on Wednesday launched a slew of new products, including a loan scheme to meet shortfall of hospital expenditure. A healthcare-focused loan product called Canara Heal is aimed at meeting the shortfall of hospitalisation expenditure while settling through TPA healthcare insurance claims of self and/or dependents, the bank said in a statement. The loan for meeting hospital expenses will be available at 11.55 per cent per annum on a floating basis and 12.30 per cent at fixed interest rate basis. The healthcare loan facility is available for customers whose treatment bill exceeds the insurance limit. The bank also introduced a customised savings account for women called Canara Angel with unique features such as cancer care policy, pre-approved personal loan Canara ReadyCash and online loan against term deposit product Canara MyMoney, it said. It is free of cost for women at the time of opening a savings account, it said, adding that existing women customers can

Canara Bank to sell a 13% stake in Canara Robeco AMC through IPO

However, the stake sale is subject to regulatory approvals from the Reserve Bank of India and Department of Financial Services, Ministry of Finance, Govt. of India