Net interest income (NII) for the reporting quarter increased 11% year-on-year (YoY) to Rs 9,580 crore.
The company’s Board has also recommended a dividend of Rs 16.10 per share, 161% of face value each, for the financial year 2023-24.
Operating profit (before provisions and contingencies) rose marginally by 2% YoY to Rs 7,387 crore in the fourth quarter. It was Rs 7252 crore in the last year quarter.
The bank made provisions to the tune of Rs 2,482 crore in the January-March 2024 period, which fell 20% YoY. This compares with Rs 3,095 crore provisions in the corresponding period of last year.On the asset quality front, the gross non-performing assets (GNPA) ratio reduced to 4.23% in the March quarter, down from 4.39% in the December quarter. The net NPA ratio too reduced to 1.27% as of March 2024 down from 1.32% as of December 2023.The capital adequacy ratio for the fourth quarter was 16.28%, of which Tier-I is 13.95%. The December quarter CRAR was at 15.78%.The global business increased 11.31% YoY to Rs 2.27 lakh crore in the reporting period with global deposits growing 11% YoY to Rs 13.12 lakh crore. Global advances were at Rs 9.6 lakh crore at the end of the March quarter, showing a growth of 11% YoY.
Domestic deposits of the Bank recorded a growth of 11% year-on-year (YoY) to Rs 12.14 lakh crore with domestic advances rising 11% YoY to Rs 9.08 lakh crore.
As of March 2024, the lender had 9604 branches, of which 3103 are in rural areas, 2751 semi-urban, and 1907 urban.
On Wednesday, shares of Canara Bank were trading 0.5% higher at Rs 579.60 on NSE.
