State-owned Canara Bank announced its financial results for the first quarter of fiscal year 2027, ending June. The bank posted a standalone net profit of ₹4,856 crore, marking a 2.2% increase compared to ₹4,752 crore in the corresponding quarter of the previous year.
Strong Income Growth Fuels Performance
The bank's Net Interest Income (NII), which represents the core earning from its lending activities, surged by 13.39% year-on-year. NII reached ₹10,215 crore in Q1 FY27, up from ₹9,009 crore in Q1 FY26. Additionally, fee income experienced a healthy rise of 5.35%, amounting to ₹2,342 crore for the quarter.
Expanding Global and Domestic Business
Canara Bank's global business demonstrated robust expansion, growing by 14.37% year-on-year to ₹29,05,066 crore as of June 2026. This growth was driven by increases in both deposits and advances:
- Global Deposits: Increased by 11.63% to ₹16,11,685 crore.
- Global Gross Advances: Rose by 17.97% to ₹12,93,381 crore.
Domestically, the bank also saw strong performance:
- Domestic Deposits: Stood at ₹14,73,447 crore, up 10.06% year-on-year.
- Domestic Gross Advances: Grew by 16.95% to ₹12,07,087 crore.
The bank's focus on key segments also yielded positive results, with Retail, Agriculture, and MSME (RAM) credit increasing by 21.20% to ₹7,64,675 crore. The retail lending portfolio specifically saw a significant surge of 35.88% to ₹3,19,893 crore, while the housing loan portfolio expanded by 17.85% to ₹1,29,036 crore.
Improved Asset Quality
Canara Bank continued to strengthen its asset quality during the quarter. The Gross Non-Performing Asset (GNPA) ratio improved to 1.57% as of June 2026, down from 1.84% in March 2026 and 2.69% a year prior. Similarly, the Net Non-Performing Asset (NNPA) ratio also saw an improvement, declining to 0.36% from 0.43% in the March quarter and 0.63% in the year-ago period.
As of June 30, 2026, Canara Bank operated a wide network of 10,131 branches across India, reflecting its extensive reach and customer base.