Canara Bank Q1 results show a revenue rise from 31774.04 to 32259.41 crores, a 1.53% increase in growth. EPS also rise from Rs.18.39 to Rs.20.61, up by 11.37%.
First, Let’s Begin with Quarter-on-Quarter Basis:
Canara Bank shared its Q1 results on Monday. They earned 32259.41 crores in revenue this quarter, but that’s more than the 31774.04 crores they made last quarter. The bank’s growth increased by 1.53 percent when comparing the two quarters.
In terms of profits, Canara Bank’s PAT (Profit After Tax) for this quarter was 3738.93 crores, up from 3336.51 crores in the previous quarter. Their quarter-to-quarter growth inclined by 12.06 percent.
The Bank’s EPS (Earnings Per Share) this quarter is Rs.20.61, which is an increase of 12.07% from the Rs.18.39 EPS in the previous quarter.
In addition, Bank’s net NPA (Non-Performing Assets) decreased to 1.57% this quarter from 1.73% in the previous quarter, resulting in a 16 basis point decrease in the bank’s net NPA.
Now, Let’s Analyze the Results on a Year-over-Year Basis:
The bank made a total revenue of 32259.41 crores this year (2023), which is 35.89 percent higher than last year’s total revenue of 23739.27 crores.
This Year’s PAT (Profit After Tax) is 3738.93 crores, which is also 71.53% higher than last year’s PAT of 2179.7 crores.
The EPS (Earnings Per Share) for this year is Rs.20.61, which is 71.46% more than the EPS of Rs.12.02 earned last year.
Bank’s gross NPA (Non-Performing Assets) dropped to 5.16% this year from 6.99% in the previous year, resulting in a decrease of 183 basis points in the bank’s gross NPA.
In addition, the bank’s net NPA (Non-Performing Assets) decreased to 1.57% this year from 2.48% in the previous year, resulting in a 91 basis point decrease in the bank’s net NPA.
The CAR (capital adequacy ratio) of the bank increased to 16.29 percent this year from 14.99 percent in the previous year.
The ROA (return on assets) of the bank increased to 1.02 percent in this quarter from 0.68 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, renowned for its customer-centric approach, was established in July 1906 by Shri Ammembal Subba Rao Pai, an esteemed visionary and philanthropist, in the town of Mangalore, which was a small port town in Karnataka at the time. Throughout its hundred-year existence, the bank has experienced several stages of growth and development.
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