Canara Bank posts 3.7% yoy growth in PAT for Q3FY20

Canara Bank posts 3.7% yoy growth in PAT for Q3FY20
Canara Bank is trading higher by ~1%. The bank reported a 3.77% rise in PAT for Q3FY20.

The following are the key highlights:
  • Total Business up by 5.19% yoy at Rs10,63,450cr
  • Gross Deposits up by 8.64% yoy at Rs62,5240cr
  • Gross Advances up by 0.64% yoy at Rs4,38,210cr
  • Net Profit up by 3.77% to Rs330cr.
  • Operating Profit stood at Rs2,334cr.
  • Gross NPA down from 10.25% to 8.36%.
  • Net NPA down from 6.37% to 5.05%.
  • Provision Coverage Ratio improved from 62.54% to 70.97%.
  • CRAR (Basel Ill) improved from 12.21% to 13.86%.
Stock View:

Canara Bank is currently trading at Rs220.60 up by Rs1.75 or 0.8% from its previous closing of Rs218.85 on the BSE.
The scrip opened at Rs220 and has touched a high and low of Rs226.65 and Rs218.85 respectively. So far 1,19,08,366 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs22,546.66cr

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