CANARA BANK Announces Q3 FY 2020-21 Financial Results
Bangalore:27 Jan 2021
Namma BENGALURU based Canara Bank announced the FY 2020-21 Q3 Financial Results for Quarter ended 31.12.2020
Highlights:
*Bank's Global Business crosses Rs 16 Trillion[1640582 Cr]
*Net Profit grew by 57% to Rs 696 Cr[3 months ended,Sep 20 vs Dec 20]
*Operating Profit grew by 16.02% to Rs 5382 Cr
*Total Income increased by 3.08% to Rs 21479 Cr
*Non-Interest Income increased by 35.44% to Rs 4273 Cr
 |
Photo Caption:- From L- R: Ms. A. Manimekhalai, Executive Director, Shri Debashish Mukherjee, Executive Director, Shri L.V. Prabhakar, Managing Director & CEO, Shri M.V. Rao, Executive Director |
Bank’s Global Business
reached Rs.1640582 crore
|
Key Highlights
(9 Months period ended) (Dec 2019 V/s Dec
2020) |
||
|
●
Domestic
Business of the Bank grew by 8.69%. ● Net-Interest Income grew by 21.47%. ● Non-Interest Income grew by 28.64%. ● Operating Profit grew by 37.29%. ● Net Profit grew by 112.21%. ● Domestic NIM improved by 26 bps. ● Cost to Income Ratio improved by 488 bps. ● Retail Credit grew by 9.33% with Housing loan at 13.32%. ●
CASA
Deposits increased by 14.89%. ● Retail term deposit grew by 18.19% ●
Gross NPA
Ratio down by 236 bps. ●
Net NPA
Ratio down by 298 bps. ●
Provision
Coverage Ratio (PCR) improved by 1452 bps. ●
CRAR
stood at 13.69% as at Dec 2020. Out of which Tier-I is 10.45% and Tier-II is
3.24% as at Dec 2020.
●
Net-Interest
Income grew by 14.58%. ● Non-Interest Income grew by 63.09%. ● Operating Profit grew by 46.65%. ● Cost to Income Ratio improved by 567 bps.
●
Operating
Profit grew by 16.02% to Rs.5382 Cr. ●
Net
Profit grew by 56.76% to Rs.696 Cr. ●
Total
Income increased by 3.08% to Rs.21479 Cr. ● Non-Interest Income increased by 35.44 % to Rs.4273 Cr. |
Key
Summary of Business Performance (as on 31.12.2020)
Business
●
Global
Business increased by 6.97% (y.o.y) to Rs.1640582 Cr as at Dec 2020 with Global
Deposits at Rs.973021 Cr 7.80% (y.o.y) and Global Advance (gross) at Rs.667561
Cr 5.79% (y.o.y).
●
Domestic
Deposit of the Bank stood at Rs.928325 Cr as at Dec 2020 with growth of 9.49%
(y.o.y).
●
Domestic
Advances (gross) of the Bank stood at Rs.644826 Cr as at Dec 2020 with growth
of 7.55% (y.o.y).
● RAM constitutes 56.65% of Total Advances.
●
Retail
lending Portfolio increased 9.33% (y.o.y) to Rs.113835 Cr as at Dec 2020.
o Housing Loan Portfolio increased 13.32% y.o.y to
Rs.62074 Cr.
o Vehicle Loan portfolio stood at Rs.13537 Cr as
at Dec 2020.
● Advances to Agriculture grew by 10.95% (y.o.y) to Rs.150652 Cr as at Dec 2020.
Asset
Quality
●
Gross
Non-Performing Assets (GNPA) ratio reduced to 7.46% as at Dec 2020 down from
8.23% as at Sept 2020, 9.39% as at March 2020 and 9.82% as at Dec 2019.
●
Net
Non-Performing Assets (NNPA) ratio reduced to 2.64% as at Dec 2020 down from
3.42% as at Sept 2020, 4.34% as at March 2020 and 5.62% as at Dec 2019.
●
Provision
Coverage Ratio (PCR) improved to 84.89% as at Dec 2020 from 70.37% as at Dec
2019.
Capital
Adequacy
●
CRAR stood
at 13.69% as at Dec 2020. Out of which Tier-I is 10.45% and Tier-II is 3.24% as
at Dec 2020.
●
Bank
successfully raised capital during FY21 through:-
AT-1 Bonds:-2816.10 Cr
QIP Equity:- 2000 Cr
Priority Sector & Financial Inclusion
●
The Bank
has achieved Targets in Priority Sector and Agricultural Credit at 47.36% and
19.54% of ANBC as at Dec 2020, as against the mandatory target of 40% and 18%
respectively.
●
Credit to
Weaker Sections stood at 17.88% of ANBC, exceeding the target of 10%.
●
Bank has
opened 137 lakhs accounts under PMJDY and mobilised CASA deposits of Rs.5803 Cr
as at Dec 2020.
Network
● As on 31.12.2020, the Bank has 10491 number of Branches, 3075 Rural, 3175 Semi- Urban, 2103 Urban & 2138 Metro along with 12973 ATM's
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