Canara Bank reports strong half-year financial performance, robust growth in Q2

Canara Bank announced impressive unaudited financial results for Q2 and H1 FY2025-26. Global business grew by 13.55% year-on-year to ₹26,78,963 Cr, driven by a 13.40% increase in global deposits to ₹15,27,922 Cr and a 13.74% rise in global advances to ₹11,51,041 Cr. Net profit surged by 18.93% year-on-year to ₹4,774 Cr, with earnings per share (annualized) reaching ₹21.01. The bank's asset quality saw significant improvement, with gross NPA ratio decreasing by 138 bps to 2.35% and net NPA ratio declining by 45 bps to 0.54%, alongside a provision coverage ratio (PCR) of 93.59%.

The bank also exceeded mandated targets under priority sector lending, with total priority sector advances at 44.56% of ANBC against the 40.00% norm. This included strong growth in agriculture (21.44% vs 18.00% norm), small & marginal farmers (14.38% vs 10.00% norm), and micro enterprises (9.98% vs 7.50% norm). Retail credit demonstrated robust growth of 29.11% year-on-year, primarily fueled by a 15.25% increase in housing loans and a 25.58% rise in vehicle loans.