Canara Bank Reports Higher Q2 Profit as Bad Loans Decline
The lender’s standalone profit rose 8% year over year, while net interest income gained more than 20% in the second quarter.
Key takeaways
- Standalone net profit rose to Rs 5,175 crore in Q2 FY27.
- Net interest income increased more than 20% to Rs 11,005 crore.
- The gross NPA ratio fell to 1.33% from 2.35% a year earlier.
Canara Bank reported standalone net profit of Rs 5,175 crore for the second quarter of FY27, up more than 8% from a year earlier. Net interest income rose more than 20% to Rs 11,005 crore.
The gross non-performing asset ratio declined to 1.33% from 2.35% in the year-earlier quarter. Net non-performing assets fell about 34% year over year to Rs 4,053 crore, according to the report.
The bank’s shares rose nearly 5% following the earnings announcement, the article reported. As of 07:28 UTC Wednesday, they traded at Rs 124.76, up 3.59% since the previous close.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
