Canara Bank , one of India's leading public sector banks, has received robust credit ratings from CARE Ratings Limited for its various bond instruments, totaling ₹30,750 crore. The ratings reflect the bank's strong financial position and market standing.

Credit Ratings Breakdown

CARE Ratings has assigned a 'CARE AA+; Stable' rating to Canara Bank's Tier I Bonds worth ₹3,500 crore. The agency has also reaffirmed its 'CARE AAA; Stable' rating for the bank's Infrastructure Bonds worth ₹20,000 crore and Tier II Bonds worth ₹7,250 crore.

Key Strengths Highlighted

The ratings agency emphasized several key strengths of Canara Bank:

1. Established retail franchise with a strong network, especially in southern India
2. Comfortable capital adequacy levels
3. Improvement in profitability over the last three years
4. Majority ownership by the Government of India (62.93% stake)
5. Demonstrated track record of capital support from the government

Areas of Concern

While the overall outlook is positive, CARE Ratings noted a few areas of concern:

1. Relatively low Current Account and Savings Account (CASA) ratio compared to peers
2. Moderate, albeit improving, asset quality levels

Financial Performance

Canara Bank has shown robust financial performance:

• Net profit increased by approximately 17% to ₹17,027.00 crore from ₹14,554.00 crore
• Return on Total Assets (ROTA) improved marginally from 1.04% to 1.08%
• For H1, the bank reported a net profit of ₹9,526.00 crore on a total income of ₹76,661.00 crore

Asset Quality Improvement

The bank's asset quality has shown significant improvement:

• Gross Non-Performing Asset (GNPA) ratio decreased to 2.35% as of September 30
• Net Non-Performing Asset (NNPA) ratio improved to 0.54%
• Provision Coverage Ratio (PCR) stood at a healthy 93.59%

Outlook

CARE Ratings has maintained a 'Stable' outlook for Canara Bank, expecting the bank to continue its steady growth in advances and deposits while maintaining stable asset quality and comfortable capitalization levels.

The strong credit ratings and positive outlook underscore Canara Bank's robust financial health and its important position in India's banking sector. As the fourth-largest public sector bank in terms of asset size, Canara Bank's performance will likely continue to be closely watched by investors and market analysts.

Canara Bank , one of India's leading public sector banks, has announced a significant change in its leadership. Vijay Srirangan, who served as the Non-Executive Chairman of the bank, has completed his tenure and stepped down from his position.

Leadership Transition

According to a regulatory filing by Canara Bank to the stock exchanges, Vijay Srirangan ceased to be a Part-Time Non-Official Director and Non-Executive Chairman on the bank's Board effective from the close of business hours on November 6, 2025. This marks the end of Srirangan's term at the helm of the bank's Board.

Regulatory Compliance

The bank promptly notified the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) about this leadership change, adhering to the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015. The announcement was made through a communication signed by Santosh Kumar Barik, the Company Secretary of Canara Bank.

Bank's Current Position

While this change in leadership is significant, it's worth noting Canara Bank's recent financial performance and market position:

• As of September 30, 2025, Canara Bank remains the fourth-largest public sector bank in India in terms of asset size.
• The Government of India continues to be the majority shareholder, holding a 62.93% stake in the bank.
• The bank maintains a strong presence with 9,948 branches and 7,405 ATMs across the country.

Recent Financial Highlights

Canara Bank has shown resilience in its financial performance:

The bank has demonstrated improvement in its asset quality and profitability, despite challenges in the banking sector.

As Canara Bank transitions to new leadership, the focus will likely remain on maintaining its strong market position, improving asset quality, and driving growth in an evolving financial landscape. The appointment of a new Non-Executive Chairman will be closely watched by stakeholders and the banking industry at large.