Canara Bank's Q3 results show that asset quality is stable and net profit increased by 26.87% to Rs 3656 crore.

Shares of the institution ended trading on the BSE at Rs 448, down 2.22 percent.
On January 24, public sector lender Canara Bank revealed a net profit for the October–December quarter of fiscal year (FY) 2023–24 of Rs. 3656 crore, above the estimated amount of Rs. 3,524.5 crore.
The institution reports a 26.87 percent increase in net profit over the same time last year, when it was Rs 2881.52 crore.
Gross non-performing assets (NPA) for the bank decreased to 4.39 percent from 5.89 percent during the same quarter previous year. Conversely, net non-performing assets (NPA) for the quarter increased to 1.32 percent, compared to 1.96 percent in the same period last year.
The lender's shares ended trading about 2.22 percent down at Rs.
The lender's shares ended trading on the BSE at Rs 448, down almost 2.22 percent.

At Rs 9,417 crore, the bank's net interest income increased by 9.50 percent. The net interest margin increased by 9 basis points (bps) to 3.02 percent. Public sector lender global business increased by 9.87 percent (y.o.y) to Rs 22,13,360 crore as of December 2023 with global deposits at Rs 12,62,930 crore and global advance (gross) at Rs 9,50,430 crore.
Canara Bank's retail lending portfolio increased to Rs 1,53,640 crore that is grew by 12.14 percent (y.o.y). Housing Loan Portfolio increased by 12.07 percent (y.o.y) to Rs 91,800 crore. Advances to Agriculture & allied activities grew by 19.26 percent (y.o.y) to Rs 2,42,470 Cr as of December 2023.
The gross non-performing asset (NPA) percentage of the bank was xx percent in the same quarter of last year, as opposed to XX percent.
non-performing assets (NPA) for the bank decreased to 4.39 percent from 5.89 percent during the same quarter previous year. Conversely, net non-performing assets (NPA) for the quarter increased to 1.32 percent, compared to 1.96 percent in the same period last year.

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