Canara Bank Hits ₹5,000 Cr Milestone in Record-Breaking Quarter

 

Canara Bank has posted its highest-ever quarterly net profit, crossing the ₹5,000 crore mark for the first time. For the January to March 2025 quarter (Q4 FY25), the state-owned bank reported a 33.19% jump in profit to ₹5,004 crore compared to the same period last year.

According to Canara Bank’s Managing Director and CEO, K Satyanarayana Raju, the strong profit was mainly due to higher non-interest income and money recovered from previously written-off loans.

The bank’s total income also went up by 9.78% year-on-year to ₹37,353 crore. However, its net interest income (NII)—which is the money earned from lending after paying interest on deposits—fell slightly by 1.44% to ₹9,442 crore. Raju said this drop was due to changes in RBI rules and last year’s reclassification of penalty interest.

Currently, Canara Bank operates 9,849 branches, including four overseas. Over the last two years, it has opened 250 new branches. I wants to continue with the similar growth plans to open another 250 this year, with 110 licenses already issued. It hired over 3,000 people last year and as a result of expansion of new branches it plans to add 3000 more this year.

 

The bank’s net interest margin (NIM), a key profitability measure, also fell to 2.73% in March 2025 from 3.07% a year earlier. Canara Bank's domestic deposits stood at ₹13.31 lakh crore, up 9.56% from last year. Global deposits reached ₹14.57 lakh crore, marking an 11.01% growth. The bank’s board has recommended a dividend of ₹4 per share.