Canara Bank Shows Resilience with Strong Profit Growth and Low NPA Ratio

Canara Bank, a prominent player in the public sector banking industry, has recently undergone an evaluation adjustment that reflects its evolving market position. The bank's technical indicators have shown a shift, with the technical trend moving from a sideways position to a mildly bullish stance. This adjustment is supported by various metrics, including the moving averages, which indicate a mildly bullish outlook on a daily basis.
In terms of performance, Canara Bank has demonstrated resilience with a low Gross NPA ratio of 2.69%, highlighting its strong lending practices. The bank's net profit has exhibited robust growth, achieving a remarkable annual rate of 59.37%. Additionally, the operating cash flow for the year reached an impressive Rs 59,946.57 crore, further underscoring its financial health.

Despite a return of -2.69% over the past year, the bank's profits have increased by 19.8%, showcasing its ability to generate earnings even in challenging market conditions. With a high dividend yield of 3.7% and significant institutional holdings at 22.8%, Canara Bank continues to maintain a strong position within the sector.

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