Canara Bank's Record Strong Financial Results For The Quarter And Year Ended March 31, 2022

Key Highlights (12 Months period ended)

(Mar-2021 V/s Mar-2022)

Net Profit grew by 122% to Rs. 5678 Cr 

Operating Profit grew by 17.27% to 23090 Cr

Net interest income grew by 9.46% to Rs.26384 Cr

Gross Advances grew by 9.77% to Rs. 741147 Cr

Retail Credit grew by 9.51% with Housing loan at 14.77% 

CASA Deposits increased by 11.52 %

Savings Bank Deposit grew by 12.22% 

Net NPA Ratio stood at 2.65% down by 117 bps

Gross NPA stood at 7.51% down by 142 bps 

Provision Coverage Ratio (PCR) stood at 84.17% improved by 449 bps 

CRAR stood at 14.90% as at Mar-2022. Out of which Tier-I is 11.91% and Tier-II is 2.99%

Fee based income Grew by 16.59% to Rs.6113 Cr

The Board of Directors has recommended a dividend of Rs 6.50 per equity share (65%) for the year ended on 31.03.2022 subject to requisite approvals

Considering the Bank’s Performance, Board of Directors have permitted to pay 15 days salary as Performance Linked Incentive (PLI) to the employees

Key Highlights (3 Months ended)

(Mar 2021 V/s Mar 2022)

Net Profit grew by 64.90% to Rs.1666 Cr

Operating Profit grew by 18.80%

Net Interest income grew by 24.84%

Key Highlights (3 Months ended)

(Dec 2021 V/s Mar 2022)

Net Profit grew by 10.89% to Rs.1666 Cr

Net Interest income grew by 0.85%

Non-Interest Income grew by 23.53%

Bank’s Global Business surpassed Rs.18,25,000 Crore

Key Summary of Business Performance (as on 31.03.2022)

Business

Global Business increased by 8.39 % (y.o.y) to Rs 1827556 Cr as at Mar 2022 with Global Deposits at Rs 1086409 Cr (7.47% y.o.y) and Global Advance (gross) at Rs 741147 Cr (9.77 % y.o.y)

Domestic Deposit of the Bank stood at Rs 1027767 Cr as at Mar 2022 with growth of 6.69% (y.o.y)

Domestic Advances (gross) of the Bank stood at Rs 711046 Cr as at Mar 2022 grew by 8.96% (y.o.y)

Retail lending Portfolio increased 9.51% (y.o.y) to Rs 126277 Cr as at Mar 2022

Housing Loan Portfolio increased 14.77% y.o.y to Rs 73828 Cr

Advances to Agriculture & Allied activities grew by 12.75% (y.o.y) to Rs 175955Cr as at Mar 2022

Asset Quality

Gross Non-Performing Assets (GNPA) ratio reduced to 7.51% as at Mar 2022 down from 7.80 % as at Dec 2021 and 8.93% as at March 2021.

Net Non-Performing Assets (NNPA) ratio reduced to 2.65% as at Mar 2022 down from 2.86% as at Dec 2021 and 3.82% as at March 2021.

Provision Coverage Ratio (PCR) stood at 84.17% as at Mar 2022 improved from 83.26% as at Dec 2021, 79.68% as at Mar 2021.

Financial ratios

Net interest Margin (NIM) stood at 2.82 improved by 6 bps.

Cost to income Ratio stood at 46.16% improved by 339 bps.

RoE stood at 12.82 improved by 611 bps.

C-D Ratio stood at 68.22% improved by 143 bps.

Capital Adequacy

CRAR stood at 14.90% as at Mar-2022. Where CET-1 is 10.26% Tier-I is 11.91% and Tier-II is 2.99%

Bank successfully raised capital during FY22 through:

QIP Equity      : Rs.2500 Cr

AT-1 Bonds     : Rs.4000 Cr

Tier II Bonds   : Rs.2500 Cr

Network

As on 31.03.2022, the Bank has 9734 Number of Branches, out of which 3042 are Rural, 2757 Semi- Urban, 1978 Urban & 1957 Metro along with 10817 ATMs and 1391 Recyclers.