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Canara Bank reported 75% yoy earnings growth
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Canara Bank (CANBK)
- Canara Bank reported ~75% yoy earnings growth led by ~15% yoy growth in operating profit and ~25% yoy decline in provisions.
- NII (Net Interest Income) growth was healthy at 28% yoy.
- Asset quality improvement continued as NPL (Non-Performing Loan) ratios declined and slippages were at a modest level.
- Loan growth was healthy (13% yoy, 3% qoq) while NIM (Net Interest Margin) was flat qoq.
- The bank reported another quarter of >1% RoA (Return on assets) and ~19% RoE (Return on Equity) led by further decline in credit cost.
Note: The above is a brief note on the company, based on the inputs of KIE research report dated 24m July 2023, whichis available onour website at: https://www.kotaksecurities.com/ksweb/ResearchCalVFundamental. Disclaimer: http://bit.ly/2n5Ax1E
https://www.kotaksecurities.com/ksweb/research/kotak-research-reports/top-weekly-picks

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Lakshit Financial is Authorized Person of Kotak Securities Limited in cash segments of BSE & NSE and NSE F&O segments with NSE. Lakshit Financial registration number: BSE CASH AP0106730124228 | NSE CASH AP029177621 | NSE F&O AP029177621. Lakshit Financial Registered Office: ASM 7, Ashwin Sector, Mumbai Agra Highway, CIDCO, Nasik 422009, Maharashtra, India. Kotak Securities Limited. Registered Office: 27 BKC, C 27, G Block, Bandra Kurla Complex, Bandra (E), Mumbai 400051. CIN: U99999MH1994PLC134051. Correspondence Address: Infinity IT Park, Bldg. No 21, Opp. Film City Road, A K Vaidya Marg, Malad (East), Mumbai 400097. SEBI Registration No. INZ000200137 (Member of NSE, BSE, MSE, MCX & NCDEX). Member Id: NSE-08081; BSE-673; MSE-1024; MCX-56285; NCDEX-1262. AMFI ARN 0164, PMS INP000000258 and Research Analyst INH000000586. NSDL/CDSL: IN-DP-NSDL-23-97.
Disclaimer: Investment in securities market are subject to market risks, read all the related documents carefully before investing. Please refer the Risk Disclosure Document issued by SEBI and go through the Rights and Obligations and Do's and Dont's issued by Stock Exchanges and Depositories before trading on the Stock Exchanges.
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