Thursday, May 5, 2011
CANARA BANK = RESULTS FOR = Q 4 FY 2011 = QTR ENDING MARCH 2011 = Q4 FY 11 NPT UP BY 79% YoY = FUTURE MORE PROMISING
NSE Symbol CANBK
CANARA BANK has declared very good results for Q4 FY 10. The Q4 results are compared with last 4 qtrs below:
Interest on Advances has grown well to Rs.4822.80 cr – up by 11.49% from Q3 FY 11; Up by 17.36% from Q2 FY 11; Up by 27.13% from Q1 FY 11; and up by 36.03% from Q4 FY 10.
Income on Investments has grown to Rs.1521.37 cr – down by 0.61% from Q3 FY 11; up by 7.4% from Q2 FY 11; Up by 15.31% from Q1 FY 11; and Up by 28.92% from Q4 FY 10.
Total Income has grown well to Rs.7350.59 cr – up by 14.06% from Q3 FY 11; Up by 20.96% from Q2 FY 11; Up By 24.7% from Q1 FY 11; and up by 33.48% from Q4 FY 10.
NII is at Rs.1972.91 cr – down by 6.9% from Q3 FY 11; Down by 1.52% from Q2 FY 11; Up by 14.18% from Q1 FY 11; and up by 23.49% from Q4 FY 10. The net interest margin is at 3.20% for Q4. For the entire year, it is 3.12% as against 2.80% the previous year
Total Expenditure excluding provisions is at Rs.5655.72 cr - up by 14.68% from Q3 FY 11; Up by 21.33% from Q2 FY 11; UP by 28.2% from Q1 FY 11; and Up by 38.75% from Q4 FY 10.
Operating Profit has grown to Rs.1694.87 cr – up by 12.02% from Q3 FY 11; Up by 19.71% from Q2 FY 11; Up by 14.26% from Q1 FY 11; and UP By 18.48% from Q4 FY 10. The operating profit for the year (FY 2011) recorded a growth of 20.7% YoY to reach a figure of Rs 6,100 crore.
Provisions for Q4 is at Rs.545.97 cr – compared to Rs.157.28 cr in Q3 FY 11; Rs.157.89 cr in Q2 FY 11; Rs.219.97 cr in Q1 Fy 11; and Rs.727.37 cr in Q4 FY 10.
Profit before tax stands at Rs. 1148.90 cr – down by 15.26% from Q3 FY 11; down by 8.66% from Q2 FY 11; down by 9.06% from Q1 FY 11; and UP BY a good 63.4% from Q4 FY 10.
Net Profit stands at Rs.898.90 cr – down by 18.71% from Q3 FY 11; down by 10.81% from Q2 FY 11; down by 11.3% from Q1 FY 11; and up by a huge 78.67% from Q4 FY 10. The Bank has declared 110% dividend.
Capital Adequacy Ratio stands at a good 15.38 – compared to 13.02 in previous qtr and 13.43 in corresponding quarter of Q4 FY 10.
Basic EPS in Q4 FY 11 is Rs.20.76 – against Rs.26.97 in Q3 FY 11; Rs.24.58 in Q2 FY 11; Rs. 24.72 in Q1 FY 11; and Rs.12.27 in Q4 FY 10.
% of Gross/Net NPA stands at 1.11 – against 1.05 in previous qtr , and 1.06 in Q4 FY 10.
Return on Assets stands at 1.27 – against 1.62 in previous qtr and 0.87 in Q4 FY 10.
BUSINESS GROWTH : Business of the bank crossed a landmark figure of Rs 5 lakh crore for the first time, recording a growth of 25.4%. The deposits grew by 25.3% and advances also grew by 25.5%. Last time our CASA was 29% and now this time it is 30.3% this year.
Overall – even considering all pensionary liabilities in the future – the bank is poised for a good growth in FY 2012.
Like many other PSBs, Canara Bank also is expected to receive huge infusion of cheap equity funds from GOI – and this will go a long way in enhancing the profitability of the PSBs – not withstanding the Monetary Policy Initiatives and Restrictions of the RBI.
ANNOUNCEMENTS TO NSE
05-05-2011 recommended a Dividend @ 110% Rs.11/- per equity share of the face value of Rs.10/- for the year ended March 31, 2011. -
05-05-2011 standalone Results for the year ended on 31-MAR-2011 as follows: Interest earned of Rs. 2306402 lacs for the year ending on 31-MAR-2011 against Rs. 1875196 lacs for the year ending on 31-MAR-2010. Interest expended of Rs. 1524074 lacs for the year ending on 31-MAR-2011 against Rs. 1307143 lacs for the year ending on 31-MAR-2010. Net Profit / (Loss) of Rs. 402589 lacs for the year ending on 31-MAR-2011 against Rs. 302143 lacs for the year ending on 31-MAR-2010.
16-03-2011 determined March 11, 2011 to be the issue closing date and Rs. 604 per equity share to be the issue price pursuant to the qualified institutions placement of the equity shares under the provisions of Chapter VIII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 ("SEBI ICDR Regulations") to certain eligible qualified institutional buyers as defined under 2(1)(zd) of the SEBI ICDR Regulations (the "Issue"). The sub-committee of the Board of Directors had also approved the placement document dated March 11, 2011 in respect of the Issue. The Bank vide its resolution dated March 15, 2011 passed by the sub-committee of the Board of Directors has confirmed the issue and allotment of 3,30,00,000 equity shares of face value of Rs. 10 each to raise aggregate proceeds of Rs. 1,993.20 crores. Consequently, the paid up capital of the Bank will be increased to Rs. 443 crores. The Government holdings continue to remain at Rs. 300 crores constituting 67.72% of the paid up capital of the Bank.
04-03-2011 Canara Bank has raised USD 350 Million through issue of Senior Unsecured Bonds under Medium Term Note (MTN) Programme on March 03, 2011 through the Bank's London Branch. The coupon rate is 5.125% p.a. The tenure of the Bonds are 5 years 6 months. The Bonds are listed on Singapore Stock Exchange.
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