Page 3 - Canara Bank

Finance Ministry asks PSBs to review their IT disaster preparedness

Initially, the government directed major banks such as SBI, BOB and Canara Bank to assess their disaster recovery systems

Canara Bank, JSW Energy among companies getting added to MSCI indexes

India's Canara Bank, Indonesian chemical firm Chandra Asri Pacific and Indian power generator JSW Energy will be the three largest additions to the MSCI emerging markets index

Canara Bank jumps 5% post stock split; up 8% in last three sessions

Canara Bank stock split: Canara Bank has fixed May 15, 2024 as the record date for determining entitlement of equity shareholders for the purpose of sub division/ split of existing equity shares

Shares of Union Bank, Indian Bank, and BoI jump up to 5%: here's why

On an index level, Nifty PSU Bank was the top sectoral performer of the day on NSE jumping 2 per cent at 7,207 levels in intraday trade

Corporate loan rejig underway to improve margins: Canara Bank MD & CEO

Raju says the bank expects to improve net interest margin (NIM) on completion of this corporate loan rejig

Q4 Results update: Canara Bank profit surges 18% to Rs 3,757 crore

State-owned Canara Bank on Wednesday reported an 18 per cent rise in its net profit to Rs 3,757 crore during the fourth quarter ended March 2024. The Bengaluru-based lender had earned a net profit of Rs 3,175 crore in the year-ago period. During the quarter, the bank's total income increased to Rs 34,025 crore as against Rs 28,685 crore a year ago, Canara Bank said in a regulatory filing. Interest income grew to Rs 28,807 crore during the period under review from Rs 23,910 crore in the corresponding quarter a year ago. The bank's board recommended a dividend of Rs 16.10 per equity share (i.e., 161 per cent) of face value of Rs 10 each to the shareholders for 2023-24, subject to approval at the ensuing Annual General Meeting. On the asset quality side, the bank's Gross Non-Performing Assets (NPAs) moderated to 4.23 per cent of gross advances as of March 31, 2024, from 5.35 per cent by the end of March 2023. Net NPAs also came down to 1.27 per cent of the advances from 1.73 per cen

Q4 Results update: Canara Bank profit surges 18% to Rs 3,757 crore

State-owned Canara Bank on Wednesday reported an 18 per cent rise in its net profit to Rs 3,757 crore during the fourth quarter ended March 2024. The Bengaluru-based lender had earned a net profit of Rs 3,175 crore in the year-ago period. During the quarter, the bank's total income increased to Rs 34,025 crore as against Rs 28,685 crore a year ago, Canara Bank said in a regulatory filing. Interest income grew to Rs 28,807 crore during the period under review from Rs 23,910 crore in the corresponding quarter a year ago. The bank's board recommended a dividend of Rs 16.10 per equity share (i.e., 161 per cent) of face value of Rs 10 each to the shareholders for 2023-24, subject to approval at the ensuing Annual General Meeting. On the asset quality side, the bank's Gross Non-Performing Assets (NPAs) moderated to 4.23 per cent of gross advances as of March 31, 2024, from 5.35 per cent by the end of March 2023. Net NPAs also came down to 1.27 per cent of the advances from 1.73 per cen

Canara Bank Q4 result: Net profit increases by 18% to Rs 3,557 cr

Minimal impact expected from RBI's draft project finance norms

State-owned Canara Bank fixes record date of May 15 for stock split

State-owned Canara Bank on Friday said it has fixed May 15 as record date for determining shareholders' eligibility for stock split. The stock split is being done with an objective to improve liquidity of the stock. In February, the bank's board had approved splitting existing shares of face value of Rs 10 each into 5 shares having a face value of Rs 2 each, fully paid up, ranking pari-passu in all respects, Canara Bank said in a regulatory filing. The Reserve Bank of India (RBI) gave its go-ahead for stock split on April 16, 2024, it said. Shares of Canara Bank were trading at Rs 577.15 apiece, down 1.10 per cent on the BSE in the afternoon trade. The government owns 62.93 per cent stake in Canara Bank, while public shareholders own the rest.

Canara Bank launches loan products to meet hospitalisation expenses

State-owned Canara Bank on Wednesday launched a slew of new products, including a loan scheme to meet shortfall of hospital expenditure. A healthcare-focused loan product called Canara Heal is aimed at meeting the shortfall of hospitalisation expenditure while settling through TPA healthcare insurance claims of self and/or dependents, the bank said in a statement. The loan for meeting hospital expenses will be available at 11.55 per cent per annum on a floating basis and 12.30 per cent at fixed interest rate basis. The healthcare loan facility is available for customers whose treatment bill exceeds the insurance limit. The bank also introduced a customised savings account for women called Canara Angel with unique features such as cancer care policy, pre-approved personal loan Canara ReadyCash and online loan against term deposit product Canara MyMoney, it said. It is free of cost for women at the time of opening a savings account, it said, adding that existing women customers can

Canara Bank to sell a 13% stake in Canara Robeco AMC through IPO

However, the stake sale is subject to regulatory approvals from the Reserve Bank of India and Department of Financial Services, Ministry of Finance, Govt. of India

Stocks to watch: Paytm, Voda Idea, CMS Info, Canara Bank, Andhra Cements

Stocks to watch on February 27, 2024: Vodafone Idea is likely to raise equity from new investors, diluting the stakes of existing shareholders when its board meets today

RBI penalises SBI, Canara Bank, City Union Bank for flouting norms

The RBI took action after conducting Statutory Inspection for Supervisory Evaluation (ISE 2022) of the three lenders with reference to their financial position as on March 31, 2022

Canara Bank board approves 5-for-1 stock split to increase affordability

The lender would need two months to get an approval for the stock split from the Reserve Bank of India, it said in an exchange filing

Limited opportunities with PSUs; bet on dividend yield, momentum: Bernstein

Within in PSU space Bernstein prefers ONGC, Coal India, IOC, Bank of Baroda, GAIL, BPCL, Canara Bank, HPCL, Oil India and MRPL.

Canara Bank raises Rs 2,000 crore funds from bonds at coupon of 8.40%

State-owned Canara Bank on Wednesday said it has raised Rs 2,000 crore by issuing bonds to fund business growth. The fund has been raised through non-convertible, taxable, perpetual, subordinated, fully paid up, unsecured Basel III compliant Additional Tier 1 bonds of face value Rs 1 crore each at a coupon of 8.40 per cent, Canara Bank said in a regulatory filing. Additional Tier I bonds qualify as core capital or equity capital, and it is one of the means of raising capital by banks.

Canara Bank raises Rs 2,000 crore in capital through Tier-I bonds

In January, the country's largest lender SBI raised Rs 5,000 crore in capital through Basel III compliant Additional Tier 1 bonds (AT-I) at a coupon rate of 8.34 per cent amid tight market conditions

Canara Bank considering stock split on Feb 26 to boost stock's liquidity

Canara Bank on Wednesday said it is planning split of the equity shares of the state-owned bank to boost the stock's liquidity. The decision in this regard will be taken by the bank's Board of Directors in a meeting, which is scheduled on February 26, Canara Bank said in a regulatory filing. The meeting's agenda is "to seek in principle approval from the board of directors for sub-division/split of the equity shares of the bank, subject to prior approval of Reserve Bank of India (RBI) and other statutory/regulatory/Government of India approvals, as may be required," it said. Shares of the bank were trading 4.16 per cent higher at Rs 542.95 per unit on the BSE.

This Rekha Jhunjhunwala-owned share nears Rs 1 trn mcap; plans stock split

Shares of Canara Bank hit multi-year high at Rs 550.50, as they rallied 6 per cent after the lender said its board will meet on February 26 to consider stock split.

Court allows Jet founder Goyal to undergo colonoscopy at private hospital

The superintendent of Arthur Road jail shall arrange sufficient escort at the expenses of the applicant (Goyal), the court said