State-owned lender Canara Bank reported a 11 per cent year-overyear (YoY) growth in Q1FY25 net profit, which stood at Rs 3,905 crore. Even as banks struggle to mobilise deposits, the lender’s total domestic deposits rose 11.47 per cent to Rs 12.31 lakh crore. Gross nonperforming assets (NPAs) stood at 4.14 per cent in the quarter under review compared to 5.15 per cent in Q1FY24. Net NPAs also declined to 1.24 per cent compared to 1.57 per cent in the year ago period. The bank reduced its credit to NBFCs by 18.5 per cent on a yearly basis in the quarter gone by. Canara Bank CEO & MD K. Satyanarayana Raju explains the lender’s performance in Q1FY25 and its efforts to mobilise deposits and impact of Reserve Bank of India’s latest draft guidelines on LCR norms.
On business performance
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