Canara Bank Shares Jump 5% on Strong Q2 Earnings

Canara Bank's stock price experienced a notable surge of 5%, reaching an intraday high of ₹126.47 on the NSE. This positive market reaction was driven by the bank's announcement of its second-quarter financial results for the period ending September 2026. The bank achieved an 8.4% year-on-year increase in its net profit, which amounted to ₹5,174.76 crore. This marks an improvement from the ₹4,773.96 crore profit reported in the same quarter last year. The bank's total income also saw a 6% year-on-year rise, reaching ₹40,931.90 crore in Q2 FY27. Furthermore, Canara Bank reported a substantial 15.9% year-on-year growth in its global business, which stood at ₹30.72 trillion for the September quarter. Global deposits grew by 13.1% to ₹16.97 trillion, and advances increased by 19.5% to ₹13.75 trillion. The bank also highlighted a strong 31.6% growth in overall retail credit, with specific segments like housing and vehicle loans showing significant increases. Asset quality improved, with gross non-performing assets decreasing to 1.33% and net non-performing assets improving to 0.3% on a quarter-on-quarter basis.