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Canara Bank Unveils Interest Payment Schedule for Basel III Bonds, Announces Call Options

Canara Bank has released its interest payment schedule for Basel III Compliant Tier I and Tier II Bonds from August to December 2025. The bank's bond portfolio totals Rs 26,089.00 crore across 15 instruments with interest rates between 7.09% and 8.62%. The schedule includes specific interest payment dates, record dates, and intentions to exercise call options on four bonds worth Rs 2,936.10 crore, subject to RBI approval. Two bonds are set to mature in December 2025. This disclosure aligns with SEBI regulations and demonstrates the bank's commitment to transparency and regulatory compliance.

25Jul 25

Canara Bank Reports Strong Q1 Performance, Sets Ambitious Growth Targets for FY26

Canara Bank posted robust financial results for Q1 FY 2025-26, with net profit rising 21.69% to ₹4,752.00 crore. Global business grew 10.98% to ₹25,63,984.00 crore, while gross advances increased 12.42%. Asset quality improved significantly, with GNPA ratio declining to 2.69%. The bank saw strong growth in retail, agriculture, and MSME segments. For FY 2026, Canara Bank targets 12% overall credit growth, 10% corporate loan growth, and a 1.05% Return on Assets. CEO K. Satyanarayana Raju expressed confidence in maintaining growth momentum and improving asset quality.

24Jul 25

ED Alleges Anil Ambani Defrauded Canara Bank of Rs 1,000 Crores as Bank Reports Strong Q1 Performance

The Enforcement Directorate (ED) has accused businessman Anil Ambani of defrauding Canara Bank of Rs 1,000 crores. Despite this allegation, Canara Bank reported robust Q1 financial results. The bank's net profit increased by 21.69% to Rs 4,752.03 crores, while global business grew by 10.98% to Rs 25,63,984 crores. Asset quality improved with GNPA ratio declining to 2.69%. Retail banking operations showed significant growth, with retail credit up by 33.92% year-on-year.

24Jul 25

Canara Bank Reports 21.69% Rise in Q1 Net Profit; ED Alleges Anil Ambani Defrauded Canara Bank

Canara Bank posted a 21.69% increase in net profit to ₹4,752.00 crore for Q1. Global business grew by 10.98% to ₹25,63,984.00 crore. The bank improved its asset quality with GNPA ratio decreasing to 2.69%. However, the Enforcement Directorate has alleged that Anil Ambani defrauded Canara Bank of ₹1,000.00 crore. The bank has not yet issued an official statement regarding these allegations.

24Jul 25

ED Alleges Anil Ambani Defrauded Canara Bank of Rs 1,000 Crores; Bank Reports Strong Q1 Results

The Enforcement Directorate has accused Anil Ambani of defrauding Canara Bank of Rs 1,000 crores. Despite this, Canara Bank reported impressive Q1 results with a 21.69% YoY increase in net profit to Rs 4,752.03 crores. The bank's global business grew by 10.98%, gross advances by 12.42%, and deposits by 9.92% YoY. Asset quality improved significantly with GNPA ratio decreasing to 2.69% and NNPA ratio to 0.63%. The bank also saw strong growth in retail credit (33.92% YoY) and RAM credit (14.90% YoY).

24Jul 25

Canara Bank Reports 21.69% Rise in Q1 Net Profit, Asset Quality Improves

Canara Bank's Q1 net profit rose 21.69% to ₹4,752.00 crore. Operating profit increased 12.32% to ₹8,554.00 crore, while total income grew 11.88% to ₹38,063.00 crore. Asset quality improved with GNPA ratio declining to 2.69% and NNPA ratio to 0.63%. Global business expanded 10.98% to ₹25,63,984.00 crore. The bank's digital transactions increased to 273.98 crore. Separately, the Enforcement Directorate alleged Anil Ambani defrauded Canara Bank of ₹1,000.00 crores.

24Jul 25

Canara Bank's Q1 Profit Surges 21.69% to ₹4,752 Crore, Asset Quality Improves

Canara Bank's Q1 net profit rose to ₹4,752 crore, up 21.69% year-over-year. The bank showed improved asset quality with gross NPA ratio decreasing to 2.69% from 4.14%. Global business grew by 10.98% to ₹25,63,984 crore. Retail credit surged by 33.92%, and the bank exceeded priority sector lending targets. Capital Adequacy Ratio stood at 16.52% under Basel III norms.

22Jul 25

Canara Bank to Unveil Q1 FY26 Results on July 24, Stock Performance in Focus

Canara Bank will release its Q1 FY26 financial results on July 24, 2025. The bank's Board of Directors will meet in Bengaluru to review and approve the figures. An earnings call is scheduled for 4 p.m. IST on the same day, featuring senior management including MD and CEO K Satyanarayana Raju. A trading window closure is in effect from July 1, 2025, until 48 hours post-results announcement. In the previous quarter (Q4 FY25), Canara Bank reported a 33.19% YoY increase in net profit to 3,757.23 crore and a 7.62% rise in total interest income to 31,002.00 crore.

10Jul 25

Canara Bank Withdraws 'Fraudulent' Classification of Anil Ambani's RCom Loan Account

Canara Bank has withdrawn its order classifying a loan account associated with Anil Ambani's Reliance Communications (RCom) as 'fraudulent'. This decision came after Ambani challenged the classification in the Bombay High Court, arguing he wasn't given a fair hearing. The court has disposed of Ambani's petition and directed that the withdrawal be communicated to the Reserve Bank of India (RBI). This move could alleviate financial and reputational pressure on RCom and Ambani.

27Jun 25

Canara Bank Rewards Government with ₹2,283.41 Crore Dividend After Record Profit

Canara Bank declared a dividend of ₹4.00 per share (200% of face value) after reporting a record net profit of ₹17,027.00 crore, up 16.99% year-over-year. The Indian government received a dividend cheque of ₹2,283.41 crore. The bank's global gross advances increased by 11.74% to ₹10.73 lakh crore, indicating strong business growth.

13Jun 25

Canara Bank Unveils Rs 9,500 Crore Capital-Raising Plan for FY26

Canara Bank's board has approved a capital-raising plan of Rs 9,500 crore for FY26. The plan includes Rs 6,000 crore through Tier II Bonds and Rs 3,500 crore via Additional Tier I Bonds. This initiative aims to strengthen the bank's capital base, enhance capital adequacy, and support growth objectives. The execution is subject to market conditions and regulatory approvals.

12Jun 25

Canara Bank to Boost Capital Base with ₹95 Billion Fundraising Plan

Canara Bank's board has approved a capital raise of up to ₹95 billion. The plan includes issuing ₹60 billion in Tier II bonds and ₹35 billion in Tier I bonds. This move aims to strengthen the bank's capital position, ensure regulatory compliance, and support growth initiatives. The capital raise is expected to boost the bank's capital adequacy ratio and provide financial flexibility for expansion.

12Jun 25

Canara Bank: Board Approves ₹9,500 Crore Fundraise for FY26 as 200% Dividend Record Date Approaches

Canara Bank has declared a 200% dividend (₹4.00 per share), with today being the last day to purchase shares for eligibility. The record date is set for June 13. The bank's board has also approved a capital raising plan of ₹9,500 crore for FY25-26 through debt instruments, including ₹6,000 crore in tier II bonds and ₹3,500 crore in additional tier I bonds, subject to regulatory approvals and market conditions.

05Jun 25

Canara Bank to Review Capital Raising Strategy for FY 2025-26

Canara Bank has announced plans to review and sanction its capital raising strategy for the fiscal year 2025-26 on June 12th. This proactive move aims to maintain a robust capital position and prepare for future financial needs. The review could involve various capital raising methods, though specific details have not been disclosed.

02Jun 25

Canara Bank Abolishes Minimum Balance Requirement for All Savings Accounts

Canara Bank has removed the average monthly balance requirement for all savings accounts, including salary and NRI accounts, effective June 1. This policy change applies universally to all types of savings accounts offered by the bank. The move aims to reduce financial stress on account holders, enhance financial inclusion, and improve customer satisfaction. This decision could potentially influence other banks to review their policies and implement similar customer-friendly initiatives.

02Jun 25

Canara Bank Scraps Minimum Balance Requirement for All Savings Accounts

Canara Bank has removed the average monthly balance (AMB) requirement for all savings accounts, including salary and NRI accounts, effective June 1. This strategic move aims to attract deposits and improve customer convenience amid industry challenges in deposit mobilization. While the bank may see a reduction in penalty income, it hopes to encourage customers to shift funds into more lucrative options like term deposits.

30May 25

Canara Bank to Deliberate on Capital Raising Plan for FY 2025-26

Canara Bank's board of directors will meet on June 20, 2023, to discuss and potentially approve a capital raising plan for the fiscal year 2025-26. The plan aims to strengthen the bank's capital base and could be used for expanding lending capabilities, investing in technology, strengthening the balance sheet, and meeting regulatory requirements. Implementation of the plan will be subject to necessary approvals from relevant authorities.

19May 25

CCI Dismisses Anti-Competitive Conduct Complaint Against Canara Bank

The Competition Commission of India (CCI) has rejected allegations of abuse of dominance and anti-competitive conduct against Canara Bank in loan transactions. The CCI found no prima facie case of contravention of the Competition Act. Canara Bank's 5.73% market share in the Indian banking sector was deemed insufficient to indicate a dominant position. This decision underscores the competitive nature of India's banking industry and the challenges in proving abuse of dominance in a fragmented market.

15May 25

Canara Bank Shares Soar 16% in a Week, Hit 5-Month High on Strong Q4 Results

Canara Bank's stock reached a 5-month high of ₹106.57, delivering a 16% return in 7 trading sessions. The rally is attributed to strong Q4 results, with net profit increasing 30% year-over-year to ₹5,003 crore. Analysts maintain 'Buy' ratings with target prices between ₹117 and ₹120, citing improved treasury gains and stable asset quality as key factors.

09May 25

Canara Bank Aims to Maintain Net Interest Margin Amid Potential Stress

Canara Bank plans to maintain its Net Interest Margin between 2.75% and 2.80% despite anticipated challenges in the coming quarters. The bank reported strong financial performance in Q4 FY2025, with a 28.08% increase in net profit to ₹5,111.20 crore and a 7.68% rise in revenue to ₹40,256.20 crore. Operating profit grew by 20.41% to ₹19,371.30 crore, indicating improved operational efficiency. Interest income rose by 12.12% to ₹21,556.00 crore. The bank's management acknowledges potential stress in the first and second quarters of the current financial year.

09May 25

Canara Bank Sets Ambitious Targets for FY26: Credit Growth, Profitability, and Asset Quality in Focus

Canara Bank has announced its financial performance guidance for FY26, projecting 10-11% growth in advances. The bank expects improved profitability and asset quality, with a credit cost guidance of 0.90% and aims to increase its provision coverage ratio to 95%. This follows a strong Q4 FY25 performance, where net profit increased by 33% year-on-year to ₹5,002.70 crore.

08May 25

Canara Bank Announces ₹4 Dividend, Posts Strong Q4 Performance

Canara Bank announced a dividend of ₹4 per equity share following impressive Q4 results for FY 2023-24. The bank reported a net profit of ₹4,255.70 crore, up 11.21% YoY. Revenue increased by 5.05% to ₹37,429.90 crore, while operating profit grew 21.27% to ₹19,998.70 crore. The bank's annual net profit for FY 2023-24 rose 36.78% to ₹14,782.40 crore, with total revenue reaching ₹139,164.90 crore, up 25.14% YoY. EPS for the fiscal year increased by 35.75% to ₹84.22.

08May 25

Canara Bank's Q4 Performance: 33% Profit Surge, Improved Asset Quality, and Dividend Announcement

Canara Bank's Q4FY25 results show significant growth with standalone net profit rising 33.15% YoY to ₹5,002.66 crore. The bank improved its asset quality, reducing GNPA to 2.94% and NNPA to 0.70%. Provisions for NPAs increased to ₹2,850.00 crore. Revenue grew by 11.69% YoY to ₹36,113.80 crore. Fresh slippages rose to ₹2,660.00 crore. The bank declared a dividend of ₹4.00 per share for FY25.

25Apr 25

Canara Bank Shares: Major Block Trade Executed on NSE

A significant block trade of approximately 3,157,756 Canara Bank shares was executed on the National Stock Exchange (NSE). The transaction occurred at Rs. 97.23 per share, totaling Rs. 30.70 crore. This large-scale trade has drawn attention from market observers, potentially indicating a shift in institutional investment strategies. While the identities of the buyer and seller remain undisclosed, such transactions can influence short-term market sentiment and trading patterns.

24Apr 25

Canara Bank Slashes Lending Rates Following RBI's Repo Rate Cut

Canara Bank has reduced its Repo Linked Lending Rate (RLLR) by 25 basis points, effective April 12, 2025. This decision follows the Reserve Bank of India's (RBI) recent cut in the benchmark repo rate from 6.25% to 6.00%. Housing loan rates now start at 7.90% per annum, while vehicle loan rates have been reduced to 8.20% per annum. The move is expected to benefit both new and existing borrowers, potentially stimulating demand in the real estate and automotive sectors.

11Apr 25

Canara Bank Appoints Amit Mittal as New Group CFO, Fitch Affirms 'BBB-' Rating

Canara Bank has appointed Amit Mittal as its new Group Chief Financial Officer (GCFO), effective March 25, 2025, for a three-year term. Mittal, a Chartered Accountant with over 16 years of banking experience, has been with Canara Bank since 2008. Separately, Fitch Ratings has affirmed Canara Bank's Long-Term Issuer Default Rating at 'BBB-' with a Stable Outlook, reflecting the bank's stable financial position, government support expectations, and adequate capitalization.

24Mar 25

Canara Bank Appoints SK Majumdar as Executive Director

Canara Bank has appointed SK Majumdar as its new Executive Director for a three-year term, effective March 24, 2025. Majumdar, a 56-year-old Chartered Accountant with over 25 years of banking experience, previously served as Chief General Manager & Group CFO at Canara Bank. The appointment was made by the Central Government under the Banking Companies Act, 1970. Simultaneously, D Surendran, Chief General Manager of Canara Bank, has been appointed as Executive Director of Punjab National Bank. The bank also announced the closure of its trading window from April 1, 2025, until 48 hours after the declaration of FY 2025 financial results.

19Mar 25

Canara Bank Bolsters Capital Base with ₹40 Billion Tier II Bond Issuance

Canara Bank has successfully raised ₹40 billion (approximately $480 million) through the issuance of Tier II bonds. This capital raising initiative aims to strengthen the bank's capital base, support regulatory requirements, and enhance its lending capacity. The move is expected to boost investor confidence and position the bank favorably in India's recovering economy with increasing credit demand.

18Mar 25

Canara Bank Boosts Capital with Rs 4,000 Crore Tier-II Bond Issue

Canara Bank successfully raised Rs 4,000 crore through a tier-II bond issue with a 7.46% coupon rate and 10-year maturity. The bonds received a AAA rating from Crisil, citing expected strong government support and the bank's established market position. The issue saw robust demand, allowing full exercise of the greenshoe option. This capital raise is expected to strengthen the bank's balance sheet and support growth initiatives.

13Mar 25

Canara Bank Unveils Rs 4,000 Crore Capital Raising Plan via Tier II Bonds

Canara Bank plans to raise up to Rs 4,000 crore through Basel III compliant Tier II Bonds with a 10-year tenor and 5-year call option. This is part of a larger Rs 8,500 crore capital raising plan for FY 2024-25. The bank's recent financial metrics show strong growth, with total assets up 10.84% YoY to Rs 1,491,540.0 crore. This move aims to improve capital adequacy, support growth, and maintain investor confidence.

11Mar 25

Canara Bank Slashes MCLR on Select Tenures, Enhancing Borrower Appeal

Canara Bank has reduced its Marginal Cost of Funds Based Lending Rate (MCLR) for select tenures, effective March 12, 2025. The overnight MCLR is down by 0.05% to 8.30%, two-year MCLR by 0.10% to 9.25%, and three-year MCLR by 0.15% to 9.30%. This reduction is expected to benefit both existing and new borrowers, particularly for longer-term loans. The bank also successfully redeemed ₹3,000 crore worth of Basel III compliant Tier 2 Bonds and paid ₹215.40 crore in interest on March 11, 2025.