Canara Bank’s loss on consolidated basis in the fourth quarter (FY20) widened to ₹3,208.31 crore due to provision for Diwan Housing, harmonisation with Syndicate Bank, and amount for wage revision, against the ₹480.71-crore loss posted in the same period last year.

The bank’s total income was lower at 2.67 per cent at ₹15,285.27 crore against ₹15,705.50 crore recorded last year. EPS for the quarter stood at ₹31.16against ₹6.67 posted last year.

“Loss in Q4 is due to increased provisions. Otherwise, our parameters are good. Our total income increased by 6.3 per cent (y-o-y) to ₹56,748 crore in FY20 and non-interest income increased by 18.8 per cent (y-o-y) to ₹7,813 crore in FY20,” LV Prabhakar, MD and CEO Canara Bank, told BusinessLine.

He further added: “The bank, in order to strengthen the balance-sheet, has made provisioning of ₹497 crore towards Diwan Housing, ₹crore for harmonisation with Syndicate Bank, and ₹1,100 crore for employees’ wage revision.”

Treasury operations were at₹3,387.12 crore (₹3,796.48 crore), retail banking operations at ₹5,690.92 crore (₹4,952.86 crore) and wholesale banking operations ₹5,105.16 crore (₹5,798.19 crore).

Asset quality

The bank’s gross NPA stood at ₹37,250.53 crore against last year’s ₹39,444.03 crore; net NPA is ₹18,287.72 crore against last year’s ₹22,986.19 crore. The percentage of gross NPA stood at 8.24 per cent against 8.87 per cent last year, while the percentage of net NPA stood at 4.23 per cent against last year’s 5.37 per cent.

Deposits / advances

The bank’s global business increased by 3.2 per cent (y-o-y) to ₹10,76,574 crore as of March 2020, with global deposits at ₹6,25,351 crore (4.4 per cent y-o-y) and global advances (gross) at ₹4,51,223 crore (1.6 per cent y-o-y).

Domestic deposit of the bank stood at ₹6,01,664 crore as of March 2020 with a growth of 6.3 per cent and domestic advances (gross) of the bank stood at ₹4,26,684 as of March 2020 with a growth of 1.8 per cent.

The CRAR of the bank improved to 13.65 per cent as of March 2020 from 11.90 per cent recorded last year.

The lender’s Provision Coverage Ratio (PCR) improved by 773 bps y-o-y from 68.13 per cent as of March 2019 to 75.86 per cent as of March 2020.

Published on June 24, 2020

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