Tuesday, October 26, 2021

Canara Bank's Q2fy22 PAT 300% | ASSET IMPROVED | OUTLOOK

  


Canara Bank's Q2 PAT jumps threefold to Rs1,332.6cr in Q2 as asset quality improves

The Bank's gross non-performing assets (GNPA) ratio reduced to 8.42% as of Sep 2021 down from 8.50% as of June 2021, 8.93% in March 2021.


Canara Bank recorded a nearly threefold rise in net profit for the quarter ending September 2021 (Q2FY22) to Rs1,332.6cr compared to a profit of Rs444.4cr in the same quarter a year ago. The lender's net interest income stood at Rs6,273.8cr down 0.5% yoy.

The Bank's gross non-performing assets (GNPA) ratio reduced to 8.42% as of Sep 2021 down from 8.50% as of June 2021, 8.93% in March 2021. Net Non-Performing Assets (NNPA) ratio reduced to 3.21 % as of Sep 2021 down from 3.46% as of June 2021, 3.82% as of March 2021.

Provision Coverage Ratio (PCR) stood at 82.44% as of Sep 2021 against 81.18% as of June 2021.

The lender's global business increased by 7.61% (y.o.y) to Rs17,19,350cr as at Sep 2021 with global deposits at Rs10,32,536cr up 8.83% (y.o.y) and global Aadvance (gross) at Rs6,86,813cr higher by 5.83% (y.o.y).

As of September 2021, the Bank has 9800 Branches, out of which 3037 are Rural, 2796 Semi-Urban, 1971 Urban & 1996 Metro along with 10988 ATMs.


STOCK OUTLOOK

186- 180 is ideal zone for fresh entry , till avoid. Still long term not very impressive.


Disclaimer- The information on this blog are based on my personal opinion and experience, it should not be considered professional financial investment advice and in no way it should be considered as a tip. We does not take any compensation of any kind whatsoever from any reader, user and company that are mention on this website. We are not SEBI registered financial advisor or analyst.


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