Canara Bank Net Profit Rises 2% To Rs 4856 Cr
Canara Bank MD and CEO Brajesh Kumar Singh told reporters at Q1FY27 earnings call on Monday that the Bank will use these flows to retire high cost bulk deposits.
Mumbai: State-owned Canara Bank is targeting to mobilise about $ 1.3 billion through FCNR(B) deposits and another $ 500 million each from External Commercial Borrowings (ECBs) and Overseas Foreign Currency Borrowings (OFCBs). So far, the bank has raised $ 775 million under the Foreign Currency Non-Resident (Bank) deposit window.
Canara Bank MD and CEO Brajesh Kumar Singh told reporters at Q1FY27 earnings call on Monday that the Bank will use these flows to retire high cost bulk deposits.
The Bank reported a 2 per cent year-on-year (YoY) rise in its net profit to ₹4,856 crore for the first quarter of FY27, compared with ₹4,752 crore in the same period a year ago.The bank reported a 13 percent YoY increase in net interest income (NII) to ₹10,216 crore in the June quarter, compared with ₹9,008 crore a year earlier. The bank's total non-performing assets (NPAs) declined nearly 24 per cent YoY to ₹1,399 crore from ₹1,845 crore in the corresponding quarter last year.
