Canara Bank Q2FY24 Results: Standalone PAT Rises to Rs 3,606.14 Cr

Canara Bank Q2FY24 Results: Standalone PAT Rises to Rs 3,606.14 Cr

Canara Bank Q2FY24 Results

Canara Bank Q2 results show revenue rise from 29,823.08 to 31,472.18 crores, a 5.53% increase in growth. EPS also rose from Rs.19.49 to Rs.19.88, up by 2.00%.

Financial Results Q2FY2024 Quarter-on-Quarter Basis:

Canara Bank shared its Q2 results on Wednesday. They earned 31,472.18 crores in revenue this quarter, but that’s more than the 29,823.08 crores they made last quarter. The bank’s growth increased by 5.53 percent when comparing the two quarters.

In terms of profits, Canara Bank’s PAT (Profit After Tax) for this quarter was 3,606.14 crores, up from 3,534.84 crores in the previous quarter. Their quarter-to-quarter growth inclined by 2.02 percent.

The Bank’s EPS (Earnings Per Share) this quarter is Rs.19.88, which is an increase of 2.00% from the Rs.19.49 EPS in the previous quarter.

In addition, the Bank’s net NPA (Non-Performing Assets) decreased to 1.41% this quarter from 1.57% in the previous quarter, resulting in a 16 basis point decrease in the bank’s net NPA.

Financial Results Q2FY2024 Year-over-Year Basis:

The bank made a total revenue of 31,472.18 crores this year (2023), which is 26.23 percent higher than last year’s total revenue of 24,932.19 crores.

This Year’s PAT (Profit After Tax) is 3,606.14 crores, which is also 42.79% higher than last year’s PAT of 2,525.47 crores.

The EPS (Earnings Per Share) for this year is Rs.19.88, which is 42.82% more than the EPS of Rs.13.92 earned last year.

The bank’s gross NPA (Non-Performing Assets) dropped to 4.76% this year from 6.37% in the previous year, resulting in a decrease of 161 basis points in the bank’s gross NPA.

In addition, the bank’s net NPA (Non-Performing Assets) decreased to 1.41% this year from 2.19% in the previous year, resulting in a 78 basis point decrease in the bank’s net NPA.

The CAR (capital adequacy ratio) of the bank decreased to 16.20 percent this year from 16.51 percent in the previous year.

The ROA (return on assets) of the bank increased to 1.02 percent in this quarter from 0.79 percent in the previous year.

Canara Bank Share Dividend Announcement / Record Date:

The record date for the dividend has not arrived yet.

About Canara Bank:

Canara Bank, headquartered in Bangalore, is a prominent Indian public sector bank. Founded in 1906 by Ammembal Subba Rao Pai in the coastal town of Mangalore, Karnataka, the bank underwent nationalization in 1969, a move that included 14 other major banks in India.

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