Canara Bank

The bank had reported an 89% jump in net profit to Rs 2525 crore in Q2FY23, aided by higher net interest income that came on the back of a healthy growth in ...

Net interest margin (NIM), a measure of profitability, of the bank stood at 2.86 per cent compared to 2.78 per cent in the previous quarter, and 2.77 per cent in the year-ago quarter. The brokerage firm has raised earnings estimates by 22-27 per cent over FY23-25, factoring-in the higher credit growth/margin and lower tax rate. The bank's net interest income grew by 18.5 per cent year-on-year (YoY) to Rs 7,434 crore compared to Rs 6,273 crore last year. [Canara Bank](/topic/canara-bank) hit over three-year high of Rs 297.35 as they gained 2.5 per cent on the BSE in Tuesday's intra-day trade. The slippage ratio also improved to 0.35 per cent in Q2FY23 from 1.04 in the year-ago period. Net NPA ratio, too, improved102 bps YoY, and 29 bps sequentially to 2.19 per cent.