Canara Bank Q4 results: Net profit jumps 33% to ₹5,003 crore; declares dividend of ₹4 for FY25

Canara Bank Q4 results: Canara Bank on Thursday, May 8, reported a 33.15 per cent year-on-year (YoY) rise in its standalone net profit to ₹5,002.66 crore for the March quarter of the last financial year (Q4FY25). The bank's net profit was ₹3,757.23 crore in Q4FY24.

During the quarter, the bank's total interest income was ₹31,002.04 crore, up 7.62 per cent YoY against ₹28,807.35 crore.

Operating profit saw a healthy growth of 12.14 per cent YoY to ₹8,284 crore from ₹7,387 crore in the same quarter of the previous financial year.

The bank's net interest income, which is a key measure of a bank's profitability, declined 1.44 per cent YoY to ₹9,442 crore from ₹9,580 crore in Q4FY24. Net interest margin for the quarter dropped 25 basis points YoY to 2.80 per cent from 3.05 per cent.

Cost to income ratio decreased 253 bps YoY to 47.55 per cent from 50.08 per cent.

Total provision in Q4FY25 stood at ₹3,280 crore, down 9.64 per cent YoY from ₹3,630 crore. Canara Bank's PCR (provision coverage ratio) rose to 92.70 per cent in Q4FY25 from 89.10 per cent YoY.

There was a notable decline in gross non-performing assets (NPA) and net NPA on a year-over-year basis.

While gross NPA declined to 2.94 per cent from 4.23 per cent YoY, net NPA decreased to 0.70 per cent from 1.27 per cent YoY.

The bank's global gross advances rose 11.74 per cent YoY to ₹10,73,332 crore, while global deposits also increased 11.01 per cent YoY to ₹14,56,883 crore.

Canara Bank share price traded 1.94 per cent higher at ₹95.48 around 2:10 PM.

Canara Bank Q4FY25 dividend

The company's board recommended a 200 per cent dividend, i.e. ₹4 per share, on the face value of ₹2 each for FY25, subject to requisite approval from shareholders.

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