Canara Bank Q1 Review - Treasury Gains Drive PAT; Growth Led By Corporate Book: Dolat Capital

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Dolat Capital Report.Canara Bank reported muted net interest income growth at 10% YoY, with 4 basis points sequential decline in reported net interest margin. Operating profits however grew at a robust 20% YoY led by high treasury gains (against an expected mark to market loss) and better priority sector lending certificate income. Advances grew at a strong 6% QoQ /15% YoY driven by corporate book (up 9% QoQ). Core pre-provision operating profit margin moderated sequentially to 1.8% in Q1 FY23. Canara Bank's asset quality trends were healthy with continued improvement in gross non-performing asset ratio (by 50 bps QoQ) to sub 7%, sequentially stable provision coverage ratio at 66%, and contained slippages at 2.3%. While slippages from the micro, small and medium enterprise book were high, it was offset by very limited corp slippages even though Future group exposure was marked as NPA (Rs 6.4 billion). .Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Canara Bank Q1 Review - Treasury Gains Drive PAT; Growth Led By Corporate Book: Dolat Capital

Canara Bank Q1 Review - Treasury Gains Drive PAT; Growth Led By Corporate Book: Dolat Capital

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