Canara Bank Q1 FY25 Results: Net Profit Surges 10.5% to ₹3,905 Crore, Asset Quality Improves Dramatically

Canara Bank‘s Q1 results for FY25 showed a 10.5% increase in standalone net profit to ₹3,905 crore, meeting analyst expectations. Net interest income (NII) rose by 6% to ₹9,166 crore. However, the bank’s net interest margins declined to 2.9%. Asset quality improved with gross NPAs decreasing to 4.14% and net NPAs to 1.24%. Operating profit remained stable at ₹7,616 crore, while provisions decreased by 16% to ₹2,282 crore. Non-interest income also saw a 10% rise to ₹5,319 crore.

5 Key Points:

1. Canara Bank’s standalone net profit increased by 10.5% YoY to ₹3,905 crore in Q1FY25.
2. Net interest income (NII) rose by 6% to ₹9,166 crore.
3. Net interest margins declined to 2.9%.
4. Asset quality improved with gross NPAs decreasing to 4.14% and net NPAs to 1.24%.
5. Non-interest income increased by 10% YoY to ₹5,319 crore.