Canara Bank
NSE Symbol CANBK
CANARA
BANK has released its Results for the
third quarter ending Dec,2011.
Major Highlights –Q2FY12
Ø Steady Growth in Business - Global
business crosses Rs.5,30,515 lakh crore,
an increase of 24.8% y.o.y.
Ø Global Deposits reached Rs.312577 crore, up by 25.4%.
Ø Domestic deposits grew by 26%
compared to SCBs’ growth at 19%.
Ø Domestic advances grew higher by 27%
compared to SCBs’ growth at 21.4%.
Ø Return on Assets at 1.01%.
Ø Capital Adequacy Ratio at 12.78%.
Tier I Capital Ratio at 9.15%.
Ø Record Cash Recovery at over 800 crore.
Ø 160 Branches and 114 ATMs added
during the Second Quarter.
Ø System Driven NPA implemented for
all loan accounts, irrespective size or category.
Ø CASA deposits was at 80775 crore, constituting 26.7% of the
domestic deposits.
Ø Savings deposits rose by 17.9% y-o-y
to 64043 crore. The Bank added over 14 lakhs SB clientele
during Q2 of FY12, with the aid of special SB campaign and substantial
mobilization of accounts by the newly opened branches.
Ø Advances (net) grew by 23.8% to
reach 217938 crore, up from 176071 crore as at September 2010. Credit to
deposit ratio stood at 69.7%.
Ø The Bank’s domestic business
constituted about 96% of the total business with 26% growth in domestic
deposits and 27% growth in domestic net advances.
Ø Steady improvement in business is
well reflected in quarter after quarter increase in productivity of the Bank.
While Business per Employee increased to
12.98 crore, Business per Branch improved to 154.35 crore as at September 2011 compared
to 138.70 crore a year ago.
Ø The Bank’s clientele base reached
4.04 crore, comprising 3.58 crore under deposit accounts and 46 lakhs under
borrowal accounts.
Ø Net Profit for Q2 FY12 stood at 852 crore, higher than the net profit level
of 726 crore reported for June 2011.
Ø On y.o.y, net profit is lower
because of higher provisioning made for NPAs
Ø Operating Profit stood at 1605 crore, recording a growth of 26% over
June 2011 quarter.
Ø Return on Average Assets (RoAA) for
Q2FY12 stood at 1.01%.
Ø While Earnings Per Share (EPS) for
the quarter was at 19.24, Book Value
rose to 439.53 compared to 355.25 as at September 2010 on enlarged
capital base.
Income and Expenses for the Q2 FY12
• The Bank’s total income for Q2FY12
increase by a healthy 38.9% to reach
8443 crore, driven by a 41.8% growth in income from loans/advances
to 5826 crore.
• Non-interest income of the Bank rose by
a healthy 56% to 828 crore compared
to 531 crore in the same quarter a year
ago.
• While total expenditure increased by
46.7% mainly due to uptrend in interest cost, operating expenses was contained
at 9%.
• Net interest income for the quarter
was 1962crore and Net Interest Margin
(NIM) improved by 22 bps from 2.42% as at June 2011 to 2.64% as at September
2011.
First Half (H1) Performance
• Net Profit for the first half (H1) was
at 1578 crore. Operating profit for H1FY12 stood at 2876 crore.
• Net Interest Income for H1 was 3731 crore compared to 3666 crore a year ago.
• Total income for the first half rose by
34.9% to 16150 crore, aided by a 43.1%
growth in income from loans/advances. The Bank's non-interest income upto
September 2011 was 1379 crore.
• While total expenses increased by 46.3%
to 13275 crore, increase in operating
expenses was 8.1%.
Capital Adequacy
• Capital Adequacy Ratio at 12.78%. Tier I
capital ratio rose to 9.15% as against 8.82% as at September 2010. By reckoning
profit for H1, the Capital Adequacy Ratio works out to 13.54%, with a Tier I
ratio of 9.91%.
• The Bank has adequate headroom available
under both Tier-I and Tier-II options to raise capital to support business
growth momentum.
Asset Quality
• The Bank’s gross NPA ratio increased to
1.73% ( 3793 crore) compared to the gross NPA ratio of 1.49% ( 2636 crore) as at
September 2010.
• The increase in NPAs was due to full
migration to system based NPA recognition, irrespective of the size or
category.
• Net NPA ratio stood at 1.43% ( 3117
crore) as at September 2011.
• Cash recovery during the H1 of FY12
aggregated to a record 1558 crore,
higher than 742 crore in the same period
a year ago. Cash Recovery for the Q2 was
at 808 crore.
Diversified Credit Portfolio
• The Bank’s credit growth at 24% during
the period was higher than the industry’s growth and was broad based across
major segments, such as, Retail, Priority, MSMEs, industrial and
infrastructure.
• The Bank’s retail lending portfolio
recorded a 23.4% growth to reach 25102
crore.
• Outstanding housing loan portfolio grew
by 35.7% to 15837 crore, constituting
over 63% of the total retail lending portfolio.
• The Bank’s credit to Micro, Small and
Medium Enterprises (MSME) recorded a y-o-y growth of 21.3% to reach 39770 crore compared to a level of 32801 crore as at September 2010.
• Outstanding advances to the priority
segments grew by 24.4% to reach 75454
crore.
• Credit to agriculture touched 32796 crore, signifying over 37% growth.
• Agriculture portfolio covers 32.93 lakh
farmers.
• Continuing its lead among nationalized
banks, the Bank’s education loan portfolio rose by 18.3% to 3856 crore, with a coverage of 1.98 lakh
students.
Enhanced Delivery Channels
During
the quarter, the Bank opened 160 branches, to take the total number branches to
3437, including 5 overseas branches one each at London, Leicester, Hong Kong,
Shanghai and Manama, Bahrain – the 5th overseas branch launched during the
quarter. With addition of 114 ATMs
during the quarter, number of ATMs further increased to 2623 as at September
2011. Debit Card base rose to 65.98
lakhs as at September 2011.
RESULTS TABLE ANALYSIS
Interest
on Advances stands at Rs.5945.67 cr – up by 2.06% from Q2 FY 12; and up by 37.44% from Q3 FY 11.
Income
on Investments stands at Rs.1809.78 cr – up by 4.61%
from Q2 FY 12; and up by 18.23% from Q3 FY 11.
Interest
Earned stands at Rs.7812.08 cr – up by 2.6%
from Q2 FY 12; and up by 32.23% from Q3 FY 11.
Total
Income stands at Rs.8591.15 cr – up by 1.76% from Q2 FY 12; and up by 33.31%
from Q3 FY 11.
Interest
Expended stands at Rs.5893.53 cr – up by 4.26% from Q2 FY 12; and up by 55.56% fromQ3 FY 11.
Operating
Profit stands at Rs.1576.74 cr – down by
-1.78% from Q2 FY 12; and up by 4.21% from Q3 FY 11.
Provisions
stands at Rs. 501.18 cr against Rs.553.11 cr in Q2 FY 12 (down by -9.39%) and
against Rs.157.28 cr (up by 218.65%) in Q3 FY 11.
Profit before tax stands at Rs.1075.56 in Q3 FY 11 –against
Rs. 1052.22 cr in Q2 FY 12 (Up by 2.22%)
and Rs. 1355.73 cr in Q3 FY 11 (down by -20.67%).
Net
Profit stands at Rs.875.56 cr – against Rs.852.22
cr in Q2 FY 12 (Up by 2.74%) and
Rs.1105.73 cr in Q3 FY 11(down by -20.82%).
Face
Value is Rs.10 and Paid up equity is Rs. 443
Cr
Capital
Adequacy Ratio stands at 13.22%
Basic
EPS stands at Rs.19.76 in Q3 FY 12;Rs.19.24 in Q2 FY 12; Rs.16.38 in Q1 FY 12.
%
of Gross/Net NPA stands at 1.49% against 1.43% in Q2 FY 12; 1.05% in Q3 FY 11.
Return on Assets stands at 1.02.
RESULTS TABLE
|
CANARA BANK
|
31-Dec-11
|
30-Sep-11
|
%DIF1
|
30-Jun-11
|
31-Mar-11
|
31-Dec-10
|
%DIF2
|
|
Interest/Discount
on Advances/Bills
|
594567
|
582560
|
2.06
|
548284
|
482280
|
432588
|
37.44
|
|
Income
on Investments
|
180978
|
172999
|
4.61
|
163338
|
152137
|
153075
|
18.23
|
|
Income
on Balances With RBI
|
5635
|
5879
|
-4.15
|
6443
|
7301
|
5122
|
10.02
|
|
Others
|
28
|
9
|
211.11
|
10
|
58
|
9
|
211.11
|
|
Interest Earned
|
781208
|
761447
|
2.6
|
718075
|
641776
|
590794
|
32.23
|
|
Other
Income
|
77907
|
82826
|
-5.94
|
52684
|
93283
|
53661
|
45.18
|
|
Total Income
|
859115
|
844273
|
1.76
|
770759
|
735059
|
644455
|
33.31
|
|
Interest
Expended
|
589353
|
565278
|
4.26
|
538767
|
444485
|
378871
|
55.56
|
|
Employees
Cost
|
71250
|
76696
|
-7.1
|
66768
|
78250
|
78375
|
-9.09
|
|
Other
Operating Expenses
|
40838
|
41766
|
-2.22
|
38184
|
42837
|
35908
|
13.73
|
|
Operating
Expenses
|
112088
|
118462
|
-5.38
|
104952
|
121087
|
114283
|
-1.92
|
|
Operating
Profit
|
157674
|
160533
|
-1.78
|
127040
|
169487
|
151301
|
4.21
|
|
Provisions
|
50118
|
55311
|
-9.39
|
34455
|
54597
|
15728
|
218.65
|
|
Profit before tax
|
107556
|
105222
|
2.22
|
92585
|
114890
|
135573
|
-20.67
|
|
Tax
Expense
|
20000
|
20000
|
0
|
20000
|
25000
|
25000
|
-20
|
|
Net Profit
|
87556
|
85222
|
2.74
|
72585
|
89890
|
110573
|
-20.82
|
|
Face
Value (in Rs.)
|
10
|
10
|
0
|
10
|
10
|
10
|
0
|
|
Paid-up
Equity
|
44300
|
44300
|
0
|
44300
|
44300
|
41000
|
8.05
|
|
Capital
Adequacy Ratio
|
13.22
|
12.78
|
3.44
|
13.37
|
15.38
|
13.02
|
1.54
|
|
Basic
EPS
|
19.76
|
19.24
|
2.7
|
16.38
|
20.76
|
26.97
|
-26.73
|
|
Gross/Net NPA
|
326542
|
311699
|
4.76
|
2871.06
|
234733
|
199104
|
64.01
|
|
% of Gross/Net NPA
|
1.49
|
1.43
|
4.2
|
1.34
|
1.11
|
1.05
|
41.9
|
|
Return on Assets
|
1.02
|
1.01
|
0.99
|
0.88
|
1.27
|
1.62
|
-37.04
|
|
Public
holding (%)
|
32.28
|
32.28
|
0
|
32.28
|
32.28
|
26.83
|
20.31
|
* *
* E N D *
* *
No comments:
Post a Comment