Canara Bank
NSE Symbol CANBK
CANARA BANK has performed at the same level as Q1 in Q2 also.
Interest on Advances at Rs.4109.56 Cr is higher by 8.33% over previous Qtr and by 17.24% over corresponding Qtr of last year.
Total Income at Rs.6077.06 Cr is higher by 3.09% over previous Qtr and by 8.48% over corresponding Qtr.
Interest Expended is Rs.3574.14 Cr – up by 4.11% over previous Qtr and by 5.26% over corresponding Qtr.
Employees Cost at Rs.727.44 Cr - is higher by 10.03% over previous Qtr and by 57.41% over corresponding Qtr.
Net Profit at Rs.1007.88 Cr – is lower by 0.54% over previous Qtr and higher by 10.69% over corresponding Qtr.
Capital Adequacy Ratio is very good at 13.88 – slightly up from 12.44 of previous Qtr and slightly lower from 14.46 of corresponding Qtr.
Basic EPS is very good at Rs.24.58 – compared to Rs.24.72 in previous Qtr and Rs.22.21 in corresponding Qtr.
% of Gross/Net NPA is 1.06 compared to 1 in previous Qtr and 1.16 in corresponding Qtr.
Return on Assets is impressive at 1.52 in Q2 and 1.55 in previous Qtr and 1.63 in corresponding Qtr.
Thus, while Canara Bank has performed excellently in Q2, it is on par with previous Qtr and slightly better compared to corresponding Qtr.
The Bank has decided in September to raise Rs.1000 Cr bonds. With such augmentation of resources, its loan book may rise healthily in current Qtr and reflect in Q3 and Q4. With some more improvement coming in Q3 and Q4, Canara Bank can easily exceed an annual EPS of Rs.100 in current fiscal.
Its current Market price is Rs.659. The PE ratio is just 6.59. For a consistently profitable Bank like Canara Bank, Market valuations should be much more.
| CANARA BANK | 30-Sep-10 | 30-Jun-10 | DIF%1 | 30-Sep-09 | DIF%2 |
| Interest on Advances | 410956 | 379361 | 8.33 | 350532 | 17.24 |
| Income on Investments | 141652 | 131937 | 7.36 | 113668 | 24.62 |
| Income on Balances With RBI | 5126 | 4781 | 7.22 | 6697 | -23.46 |
| Others | 10 | 9 | 11.11 | 19 | -47.37 |
| Interest Earned | 557744 | 516088 | 8.07 | 470916 | 18.44 |
| Other Income | 49962 | 73397 | -31.93 | 89294 | -44.05 |
| Total Income | 607706 | 589485 | 3.09 | 560210 | 8.48 |
| Interest Expended | 357414 | 343305 | 4.11 | 339549 | 5.26 |
| Employees Cost | 72744 | 66115 | 10.03 | 46213 | 57.41 |
| Other Operating Expenses | 35971 | 31731 | 13.36 | 32536 | 10.56 |
| Operating Expenses | 108715 | 97846 | 11.11 | 78749 | 38.05 |
| Operating Profit | 141577 | 148334 | -4.56 | 141912 | -0.24 |
| Provisions | 15789 | 21997 | -28.22 | 30860 | -48.84 |
| Profit before tax | 125788 | 126337 | -0.43 | 111052 | 13.27 |
| Tax Expense | 25000 | 25000 | 0 | 20000 | 25 |
| Net Profit After Tax | 100788 | 101337 | -0.54 | 91052 | 10.69 |
| Net Profit | 100788 | 101337 | -0.54 | 91052 | 10.69 |
| Face Value .Rs. | 10 | 10 | 0 | 10 | 0 |
| Paid-up Equity | 41000 | 41000 | 0 | 41000 | 0 |
| Shares Held by GOI(%) | 73.17 | 73.17 | 0 | 73.17 | 0 |
| Capital Adequacy Ratio | 13.88 | 12.44 | 11.58 | 14.46 | -4.01 |
| Basic EPS | 24.58 | 24.72 | -0.57 | 22.21 | 10.67 |
| Gross/Net NPA | 185967 | 172936 | 7.54 | 169414 | 9.77 |
| % of Gross/Net NPA | 1.06 | 1 | 6 | 1.16 | -8.62 |
| Return on Assets | 1.52 | 1.55 | -1.94 | 1.63 | -6.75 |
| Public holding (%) | 26.83 | 26.83 | 0 | 26.83 | 0 |
ANNOUNCEMENTS
TO THE EXCHANGE
20-10-2010 Canara Bank has informed the Exchange regarding the standalone Results for the quarter ended on 30-SEP-2010 as follows: Interest earned of Rs. 557744 lacs for the quarter ending on 30-SEP-2010 against Rs. 516088 lacs for the quarter ending on 30-JUN-2010. Interest expended of Rs. 357414 lacs for the quarter ending on 30-SEP-2010 against Rs. 343305 lacs for the quarter ending on 30-JUN-2010. Net Profit / (Loss) of Rs. 100788 lacs for the quarter ending on 30-SEP-2010 against Rs. 101337 lacs for the quarter ending on 30-JUN-2010. -
29-09-2010 Canara Bank has informed the Exchange that "The Bank would be going for Upper Tier - II Bonds (Series - III) for an issue amount of Rs.1000 Crore. We have collected the full amount of Rs.1000 Crore under the said issue". -
09-08-2010 Canara Bank has informed the Exchange that the Bank would be going for Tier - I Bonds for an issue amount of Rs. 500 Crore with a green shoe option. Bank have collected a total amount of Rs. 749.30 Crore under the said issue.
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