K. Satyanarayana Raju, MD & CEO of Canara Bank
State-owned Canara Bank reported a net profit of ₹5,004 crore for the fourth quarter ending March 31, up by a 33.19 per cent year-on-year increase. The bank’s net interest fell marginally by 1.44 per cent y-o-y to ₹9,442 crore in the same period last year.
The revenue growth was attributed to non-interest income, which grew by 23 per cent y-o-y, and recovery under technical write-off accounts. “We consistently focus on strong recoveries in this segment every quarter. In this quarter as well, we recovered approximately ₹2,700 crore,” K. Satyanarayana Raju, MD & CEO of Canara Bank, explained.
Elaborating on the rising cost of deposits and funds, he said, “Despite intense pressure, we’ve effectively managed our cost of deposits, there’s been only a four-basis points increase, from 5.70 per cent in June 2024 to 5.74 per cent now. Similarly, the cost of funds rose by just three basis points. A key factor was our focused push on retail and CASA deposits.”
Global business rises 11%
The global business stood at ₹25,30,215 crore, growing by 11.32 per cent, while global deposit stood at ₹ 14,56,883 crore grew by 11.01 per cent.
On the lending front, RAM credit grew by 13.23 per cent, and retail credit grew by 42.80 per cent with housing loan growth at 13.57 per cent and vehicle loan at 19.63 per cent.
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Published on May 8, 2025
