Canara Bank Reports Mixed Q3 FY24-25 Results Amidst Record Profit and Low NPAs

Canara Bank has recently reported its financial results for the third quarter of FY24-25, revealing a mixed performance landscape. The bank's score has undergone an adjustment in evaluation, reflecting a notable shift from the previous assessment.
On a positive note, Canara Bank has achieved its lowest Gross Non-Performing Assets (NPA) ratio at 3.34%, continuing a downward trend over the last five quarters. Additionally, the bank reported a record Profit After Tax (PAT) of Rs 4,104.20 crore, marking a consistent growth trajectory in this metric. The Net NPA also reached a low of 0.89%, indicating a reduction in stressed loans. Interest earned hit a high of Rs 30,311.61 crore, and Earnings per Share (EPS) rose to Rs 4.52, showcasing enhanced profitability.

Conversely, the bank faced challenges with its Profit Before Tax less Other Income (PBT), which fell significantly to Rs -363.79 crore, reflecting a negative trend compared to previous quarters. Furthermore, Net Interest Income and Operating Profit both reached their lowest points in five quarters, suggesting a decline in core business income and operational efficiency.

Overall, Canara Bank's recent financial results highlight a complex scenario of strengths and weaknesses.

Discover the Latest Mojo Score and Financial Trend Performance - SignUp in less than 2 Minutes and get FREE Premium Access.