Canara Bank reports good Q2 earnings and had net profit in terms of ₹4,014 cr, which is up 11.31 percent YoY. Profits wise, the company achieved earnings per share which marked growth of 10.57 percent. And more importantly, the bank also performed very well in CRAR that stood at 16.57 percent showing improvement from the previous time, depicts a stronger capital basis for this bank.
The bank also saw considerable improvements in asset quality, with the gross NPA ratio having been reduced to 3.73% from a year ago with a decline of 103 bps, while the net NPA ratio is down at 0.99%, improving by 42 bps. The provision coverage ratio (PCR) has increased to 90.89% with an improvement of 216 bps, and the slippage ratio has been contained at 1.00% with an improvement of 32 bps. These positive numbers reflect effective risk management coupled with high financial stability across the banking sector.
Canara Bank is one of the major public sector banks in India. Established in 1906, Bangalore-based bank has over 83,000 employees working for it today. It was nationalized in 1969 and has deep roots in the country with international offices in London, Dubai, and New York catering to the world market.
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Tomorrow 31st Oct is celebrated as World Day for National Unity Day!
As Stated in Bhagavad Gita:
यत्र योगेश्वरः कृष्णो यत्र पार्थो धनुर्धरः।
तत्र श्रीर्विजयो भूतिर्ध्रुवा नीतिर्मतिर्मम।
Wherever there is Lord Krishna, the master of yoga, and Arjuna, the supreme archer, there also is prosperity, victory, and sound morality.
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