Canara Bank Posts 12.69% Growth in FY26 Net Profit; Asset Quality Improves

Bengaluru, May 11, 2026: Canara Bank on Monday reported a strong financial performance for the quarter and financial year ended March 31, 2026, registering healthy growth in business, profitability and retail lending while further improving asset quality indicators.

Hardeep Singh Ahluwalia, MD & CEO (I/c)

Announcing the Q4 FY26 results, Hardeep Singh Ahluwalia said the bank’s global business rose 12.11 per cent year-on-year to ₹28,06,226 crore. Global deposits increased by 9.71 per cent to ₹15,68,678 crore, while global advances grew 15.30 per cent to ₹12,37,548 crore.

The bank posted a net profit of ₹19,187 crore for FY26, marking a growth of 12.69 per cent over the previous year. Operating profit for the year stood at ₹33,019 crore, up 5.19 per cent year-on-year. Earnings per share also improved by 12.68 per cent.

Retail and RAM segments continued to drive credit growth during the year. RAM credit expanded 19.73 per cent to ₹7,30,520 crore, while the retail lending portfolio surged 32.93 per cent to ₹2,96,912 crore. Housing loans grew 17.55 per cent to ₹1,24,799 crore, and vehicle loans recorded a growth of 26.33 per cent. Fee-based income increased 8.83 per cent year-on-year to ₹9,649 crore.

On the domestic front, deposits stood at ₹14,36,905 crore, recording a 7.95 per cent growth, while domestic advances rose 15.12 per cent to ₹11,61,143 crore as of March 2026.

The bank also reported continued improvement in asset quality. Gross Non-Performing Asset (GNPA) ratio declined to 1.84 per cent in March 2026 from 2.94 per cent in March 2025 and 2.08 per cent in December 2025. Net NPA ratio improved to 0.43 per cent from 0.70 per cent a year ago.

Provision Coverage Ratio improved to 94.21 per cent, while credit cost reduced to 0.59 per cent and slippage ratio eased to 0.69 per cent. Capital Adequacy Ratio (CRAR) stood at 17.04 per cent at the end of March 2026, including CET1 ratio of 12.44 per cent, Tier-I ratio of 14.59 per cent and Tier-II ratio of 2.45 per cent.

The bank exceeded regulatory norms across priority sector categories. Priority sector advances stood at 43.71 per cent of Adjusted Net Bank Credit (ANBC), while agricultural credit reached 19.52 per cent against the mandated norms of 40 per cent and 18 per cent respectively.

Credit to small and marginal farmers stood at 12.55 per cent of ANBC, while credit to weaker sections was at 18.65 per cent. Credit to micro enterprises and non-corporate farmers also remained above prescribed targets.

As on March 31, 2026, the bank operated 10,097 branches across the country, including 3,200 rural branches, along with 11,306 ATMs and recyclers. The bank also maintains overseas branches in London, New York, Dubai and GIFT City, Gujarat.

****