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Canara Bank Profit Surges Amidst Double-Digit Growth
27 Jul
Summary
- Canara Bank's net profit grew 2.19% to ₹4,856 crore in Q1 FY27.
- Global business expanded 14.37% to ₹29,05,066 crore.
- Gross NPA improved to 1.57% from 2.69% a year ago.
Canara Bank announced a standalone net profit of ₹4,856 crore for the first quarter ending June 30, 2026, reflecting a 2.19% increase year-on-year. This positive financial performance was bolstered by robust double-digit credit growth and sustained improvements in asset quality.
The lender's global business experienced a substantial expansion of 14.37%, reaching ₹29,05,066 crore during the quarter. Global advances surged by 17.97%, primarily fueled by strong performance in retail, agriculture, and MSME segments.
Asset quality metrics showed sequential strengthening. Gross non-performing assets (GNPA) improved to 1.57% as of June 2026, down from 1.84% in March 2026 and significantly lower than 2.69% in June 2025. Net NPAs also decreased to 0.36%.
Looking ahead, management projects 11-12% growth in global advances and 9-10% in global deposits for FY27. They expressed confidence in potentially exceeding loan growth targets due to current momentum. The bank expects NIM to remain stable between 2.5-2.6%.
