Canara Bank Reports 10% Drop in Q4 Profit; Stock Falls 4%
Canara Bank stock falls 4% as Q4 profit falls 10%; asset quality improves
Business Standard
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Canara Bank's shares fell over 4% to ₹128.58 following a 10% decline in its Q4 profit, which stood at ₹4,505.57 crore. Despite the profit drop, the bank reported improvements in asset quality, with gross non-performing assets decreasing to ₹22,740.01 crore.
- 01Canara Bank's Q4 profit decreased by 9.9% year-on-year to ₹4,505.57 crore.
- 02The bank's stock price dropped over 4%, trading at ₹130.
- 03Gross non-performing assets fell 8.42% to ₹22,740.01 crore.
- 04The bank's net interest income increased by 4% to ₹9,808 crore.
- 05A dividend of ₹4.20 per equity share has been recommended for FY26.
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Canara Bank's share price fell by over 4% to ₹128.58 after reporting a 9.9% decline in its standalone net profit for the March 2026 quarter, totaling ₹4,505.57 crore. The bank's net interest income rose to ₹9,808 crore, a 4% increase from the previous year. Despite the profit drop, Canara Bank improved its asset quality, with gross non-performing assets decreasing by 8.42% to ₹22,740.01 crore. The net NPA ratio also fell to 0.43% from 0.45% in the prior quarter. The bank's board has proposed a dividend of ₹4.20 per equity share for FY26, pending shareholder approval. Canara Bank's market capitalization is currently at ₹1.18 trillion, and its stock has seen a 13% decline year-to-date, compared to a 7.5% decline in the benchmark NSE Nifty50 index.
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The decline in profit may affect investor confidence and could lead to a reassessment of Canara Bank's financial health, impacting stock performance in the short term.
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