State-owned Canara Bank reported a 2.19% year-on-year increase in net profit to ₹4,856 crore for the quarter ended June 30, 2026, supported by steady business growth and continued improvement in asset quality.
The bank’s operating profit rose marginally by 0.96% to ₹8,636 crore, while fee income increased 5.35% to ₹2,342 crore during the quarter.
Business growth remains strong
Canara Bank’s global business expanded 14.37% year-on-year to ₹29,05,066 crore as of June 30, 2026. Global deposits grew 11.63% to ₹16,11,685 crore, while global advances rose 17.97% to ₹12,93,381 crore.
The bank continued to witness robust momentum in the retail segment, with RAM (Retail, Agriculture and MSME) credit growing 21.20% year-on-year. Retail advances surged 35.88%, driven by housing loans, which grew 17.85%, and vehicle loans, which increased 26.34%.
Asset quality strengthens
Canara Bank further strengthened its balance sheet during the quarter, with its gross non-performing asset (GNPA) ratio improving to 1.57%, a decline of 112 basis points from a year ago.
The net NPA ratio improved to 0.36%, while the Provision Coverage Ratio (PCR) rose to 94.76%.
The bank also reported an improvement in its credit cost, which fell to 0.49%, and slippage ratio, which declined to 0.60%, reflecting better loan quality and recoveries.
Capital position remains healthy
Canara Bank’s Capital to Risk-weighted Assets Ratio (CRAR) stood at 17.17% at the end of June 2026, including a Common Equity Tier-I (CET1) ratio of 12.91%, providing adequate capital to support future business growth