Canara Bank (CANBK) Q3 24/25 earnings summary

Executive summary

• Global business grew 9.3% year-over-year to INR 24.19 lakh crore (₹24,19,171 crore), with advances up 10.45% and deposits up 8.44%.

• Net profit increased 12.25% year-over-year to INR 4,104 crore for Q3 FY25, with operating profit up 15.15% to INR 7,837 crore.

• Achieved or surpassed 9 out of 13 FY25 guidance parameters within nine months, including advances growth, asset quality, and profitability.

• Asset quality improved: gross NPA declined to 3.34%, net NPA to 0.89%, and PCR reached 91.26%.

• Board approved results on 27.01.2025, reviewed by statutory auditors.

Financial highlights

• Standalone operating profit before provisions for Q3 FY25 was ₹7,836.62 crore; net interest income for Q3 FY25 was ₹9,149 crore.

• Fee-based income grew 23.31% year-over-year to INR 2,185 crore; treasury income surged 147.68%.

• EPS (annualized) stood at ₹17.59 (face value ₹2); book value per share at ₹95.26.

• Cost-to-income ratio improved to 47.16%; NIM (global) at 2.83%.

• Return on assets (ROA) at 1.04% and return on equity (ROE) at 20.18%.

Outlook and guidance

• Guidance for March 2025: global business growth 10%, advances 10%, deposits 9%; actuals as of Dec 2024: business growth 9.3%, advances 10.45%, deposits 8.44%.

• NIM guidance 2.90% vs. actual 2.83%; gross NPA guidance 3.5% vs. actual 3.34%.

• ROE guidance 18% vs. actual 20.18%; EPS guidance ₹16.40 vs. actual ₹17.59.

• Bank recognized a net gain of ₹1,748.98 crore (net of tax) on investment portfolio reclassification as per new RBI directions.

• Figures for FY25 are not directly comparable to previous periods due to changes in investment classification.