Canara Bank (CANBK)
₹118.29 +1.00% last close, 16 Oct
Latest quarterly results (Q3 FY26)
In its latest reported quarter, Q3 FY26, Canara Bank's revenue was ₹30,938 Cr (+0.6% year on year, -1.9% on the previous quarter), and net profit ₹5,174 Cr (+21.6% year on year).
| Q3 FY26 (₹ Cr) | Value | YoY vs Q3 FY25 | QoQ |
|---|---|---|---|
| Revenue | ₹30,938 | +0.6% | -1.9% |
| Net profit | ₹5,174 | +21.6% | +8.4% |
| EPS (₹) | 5.79 | +24.5% | +10.1% |
CANBK delivery percentage and open interest
NSE end-of-day data for
On Fri, 16 Oct 2026, 51.48% of the CANBK shares traded on NSE were taken to delivery, against the stock's own 20-session average of 45.67%. That is close to its usual level. In CANBK futures, open interest fell 5.52% while the futures price rose 1.15%: short covering (shorts closing out).
Delivery in the last 5 sessions: 46.0% · 45.9% · 22.1% · 36.7% · 51.5%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Canara Bank has submitted its quarterly Security Cover Certificate for the quarter ended September 30, 2026, pursuant to SEBI LODR Regulation 54. The bank holds 17 listed Non-Convertible Unsecured Debt Securities (AT1, Tier II, and Long-Term Bonds) with total outstanding debt of ₹53,445.00 Crore. As all debt instruments are unsecured subordinated bonds, a 'NIL' security cover certificate was filed in accordance with SEBI circulars. The statutory central auditor, M/s SR Goyal & Co., confirmed full compliance with all debt covenants.
- Total outstanding listed unsecured debt stands at ₹53,445.00 Crore across 17 issuances
- Instruments include Basel III AT-1 bonds, Tier-II bonds, and Long-Term Infrastructure Bonds
- Auditor certified 'NIL' security cover required as all issuances are unsecured subordinated debt
- Statutory auditor confirmed full compliance with all covenants as of September 30, 2026
Canara Bank reported its Q2 (ended September 30, 2026) financial results with net profit growing 8.40% YoY to ₹5,175 Cr. Operating profit rose modestly by 1.98% YoY to ₹8,758 Cr, while global advances expanded strongly by 19.46% YoY to ₹13,75,060 Cr. Asset quality strengthened significantly, with Gross NPA improving by 102 bps YoY to 1.33% and Net NPA dropping 24 bps YoY to 0.30%. The bank maintained a healthy capital adequacy ratio (CRAR) of 17.19% and high provision coverage of 95.34%.
- Net profit increased 8.40% YoY to ₹5,175 Cr; EPS reached ₹22.06
- Gross NPA reduced 102 bps YoY to 1.33%, Net NPA fell 24 bps YoY to 0.30%
- Global advances grew 19.46% YoY to ₹13,75,060 Cr, led by 31.61% YoY growth in retail credit
- Global deposits rose 13.13% YoY to ₹16,97,305 Cr, with domestic deposits up 10.97%
- Provision Coverage Ratio (PCR) improved by 175 bps YoY to 95.34%
Canara Bank reported its Q2 FY2026-27 results via an investor presentation, showing an 8.40% YoY rise in standalone net profit to ₹5,175 Cr. Net Interest Income grew 20.39% YoY to ₹11,005 Cr, supported by a 19.46% YoY increase in global gross advances to ₹13,75,060 Cr. Asset quality improved substantially, with Gross NPA down 102 bps YoY to 1.33% and Net NPA declining 24 bps YoY to 0.30%, alongside a provision coverage ratio of 95.34%. Annualized Return on Equity stood at 18.49%, outperforming the bank's FY2027 guidance target of 16.50%.
- Q2 Net Profit up 8.40% YoY to ₹5,175 Cr; Net Interest Income rose 20.39% YoY to ₹11,005 Cr
- Asset quality strengthened with Gross NPA falling to 1.33% and Net NPA dropping to 0.30%
- Global Gross Advances grew 19.46% YoY to ₹13,75,060 Cr, led by 31.61% YoY growth in retail credit
- Credit cost declined 21 bps YoY to 0.47%, while slippage ratio improved 18 bps YoY to 0.58%
- Annualized RoE stood at 18.49% against the FY2027 guidance target of 16.50%
Canara Bank reported an 8.4% YoY increase in standalone net profit to ₹5,174.76 crore for Q2 ended September 30, 2026, compared to ₹4,773.96 crore in Q2 FY26. Total income grew 6.0% YoY to ₹40,931.19 crore, supported by interest earned reaching ₹35,159.39 crore. Asset quality showed sharp improvement with Gross NPA dropping 102 bps YoY to 1.33% and Net NPA falling to 0.30%. The bank's Basel III Capital Adequacy Ratio strengthened to 17.19% from 16.20% a year ago.
- Net profit increased 8.40% YoY to ₹5,174.76 crore for Q2 FY27 (vs ₹4,773.96 crore in Q2 FY26)
- Gross NPA declined to 1.33% (₹18,298.95 crore) vs 2.35% (₹27,040.27 crore) in the previous year quarter
- Net NPA fell to 0.30% (₹4,053.19 crore) from 0.54% (₹6,113.22 crore) YoY
- Operating profit rose to ₹8,758.13 crore, while total provisions fell to ₹1,781.97 crore (NPA provisions at ₹1,338.66 crore)
- Capital Adequacy Ratio (Basel III) improved to 17.19% with CET-1 at 12.80%
Canara Bank reported internal senior management changes effective 01.10.2026. Shri Shambhu Lal, Chief General Manager (CGM) with over 34 years of banking experience, has taken charge as the Human Resources Wing Head following the superannuation of Shri B P Jatav. Additionally, Shri Barun Singh Thakur, General Manager, was promoted to CGM and posted to the Inspection Wing with 27 years of experience. These internal transitions are administrative and part of routine superannuation and promotion processes.
- Shri Shambhu Lal assumed charge as Human Resources Wing Head w.e.f. 01.10.2026.
- Shri B P Jatav ceased to be CGM of the Bank w.e.f. 01.10.2026 upon attaining superannuation.
- Shri Barun Singh Thakur promoted to Chief General Manager and posted to Inspection Wing w.e.f. 01.10.2026.
- Appointees hold extensive banking experience of 34+ years (Shambhu Lal) and 27 years (Barun Singh Thakur).
Canara Bank announced its provisional quarterly business figures for the quarter ended September 30, 2026. Total Global Business grew 15.83% YoY to ₹30,70,928 crore, led by robust 19.35% YoY growth in Global Advances to ₹13,73,733 crore. Global Deposits grew 13.13% YoY to ₹16,97,195 crore, while domestic RAM (Retail, Agriculture, MSME) advances surged 21.00% YoY to reach ₹8,12,109 crore. Sequentially, global business expanded 5.71% Q-o-Q, driven by solid credit momentum.
- Global Business crossed ₹30.70 lakh crore at ₹30,70,928 crore, growing 15.83% YoY and 5.71% QoQ
- Global Advances surged 19.35% YoY to ₹13,73,733 crore, outpacing Global Deposit growth of 13.13% YoY (₹16,97,195 crore)
- Domestic RAM segment delivered strong growth of 21.00% YoY to ₹8,12,109 crore
- Domestic Advances grew 16.83% YoY to ₹12,63,433 crore, compared to Domestic Deposit growth of 10.96% YoY to ₹15,47,869 crore
Canara Bank reported its provisional business figures for the quarter ended September 30, 2026, with total global business crossing ₹30.7 lakh crore, representing a 15.83% YoY and 5.71% QoQ increase. Total global advances rose 19.35% YoY to ₹13,73,733 crore, outpacing deposit growth which stood at 13.13% YoY to ₹16,97,195 crore. Domestic RAM (Retail, Agriculture, and MSME) credit showed strong momentum, jumping 21.00% YoY to ₹8,12,109 crore. These figures are provisional and subject to statutory audit.
- Global business reached ₹30,70,928 crore, growing 15.83% YoY and 5.71% QoQ
- Global advances increased 19.35% YoY (6.21% QoQ) to ₹13,73,733 crore
- Global deposits expanded 13.13% YoY (5.31% QoQ) to ₹16,97,195 crore
- Domestic RAM advances surged 21.00% YoY to ₹8,12,109 crore
Canara Bank reported provisional business figures for the quarter ended September 30, 2026, with total global business crossing ₹30,70,928 crore, reflecting a 15.83% YoY and 5.71% QoQ increase. Global advances expanded strongly by 19.35% YoY to ₹13,73,733 crore, outpacing global deposit growth of 13.13% YoY (to ₹16,97,195 crore). Within domestic advances, the RAM (Retail, Agri, MSME) segment posted robust growth of 21.00% YoY to reach ₹8,12,109 crore. Domestic deposits rose 10.96% YoY to ₹15,47,869 crore.
- Global business grew 15.83% YoY and 5.71% QoQ to ₹30,70,928 crore as of Sept 30, 2026
- Global advances increased 19.35% YoY (6.21% QoQ) to ₹13,73,733 crore
- Global deposits expanded 13.13% YoY (5.31% QoQ) to reach ₹16,97,195 crore
- Domestic RAM segment surged 21.00% YoY to ₹8,12,109 crore, up 6.20% QoQ
Canara Bank has issued call option notices to redeem its ₹1,500 crore Basel III compliant Additional Tier 1 (AT-1) bonds carrying an 8.40% annual coupon. The call option will be executed on October 23, 2026, with the record date set for October 8, 2026. The bank has already received regulatory approval from the Reserve Bank of India on September 15, 2026. This redemption represents approximately 1.3% of the bank's net worth of ₹113,382 crore.
- Exercising call option on ₹1,500 crore Basel III AT-1 perpetual bonds (ISIN: INE476A08126)
- Bonds carry an annual coupon rate of 8.40% p.a., originally issued on October 25, 2021
- Call option execution date scheduled for October 23, 2026 (moved from October 25 due to holiday)
- Record date for bondholders fixed as October 8, 2026
- RBI approval for the call option was obtained on September 15, 2026
Canara Bank has announced an update regarding the exercise of the call option and coupon payment for its bond ISIN INE476A08126. Because the scheduled due date of 25th October 2026 is a non-business day (Sunday), the bank will exercise the call option and execute the payment on Friday, 23rd October 2026. Consequently, the record date to determine eligible bondholders has been revised from 09th October 2026 to Thursday, 08th October 2026. This is a routine operational adjustment in accordance with the terms of the Placement Memorandum.
- Call option redemption and coupon payment advanced to 23rd October 2026 as 25th October 2026 is a non-business day
- Record date revised to 08th October 2026 from 09th October 2026
- Applies specifically to bond issue under ISIN INE476A08126
Canara Bank has confirmed the timely payment of annual interest amounting to Rs 377 crore on its unsecured, redeemable, non-convertible long-term bonds (ISIN INE476A08191). The total issue size of these bonds stands at Rs 5,000 crore. The scheduled payment was executed on September 27, 2026, via electronic modes as per the terms of the issue. This constitutes a regular regulatory compliance intimation under Regulation 57 of SEBI LODR.
- Annual interest paid of Rs 377,00,00,000 on September 27, 2026
- Total issue size of bonds is Rs 5000,00,00,000
- Bond record date was September 11, 2026
- Payment made on time with no delay or change in annual frequency
Canara Bank has revised the annual interest payment date for its bond series (ISIN: INE476A08191) to September 27, 2026. Previously, the payment had been scheduled for September 28, 2026, assuming September 27 was a Sunday holiday. Following Ministry of Finance directives dated September 23, 2026, advising Public Sector Banks to function normally on Sunday, September 27, the bank will now execute the payment on the original due date.
- Bond interest payment rescheduled from 28.09.2026 to 27.09.2026 for ISIN INE476A08191
- Change triggered by Ministry of Finance press release dated 23.09.2026 making 27.09.2026 a normal working day
- Interest payment aligns with the original coupon date in the Placement Memorandum dated 27/09/2023
- All Canara Bank branches and offices to remain fully operational on Sunday, 27.09.2026
The Ministry of Finance, Government of India, has extended the term of office for Shri Bhavendra Kumar as Executive Director of Canara Bank. His current term was scheduled to end on October 8, 2026, and is now extended until his superannuation on October 31, 2027, or until further orders. Shri Kumar has been serving as Executive Director since October 9, 2023, and previously headed the bank's Delhi Circle Office with over Rs 2.5 lakh crore in business. This extension ensures senior leadership continuity for the PSU bank.
- Term extended beyond October 8, 2026, until superannuation date of October 31, 2027
- Notification issued by Department of Financial Services dated September 23, 2026
- Shri Bhavendra Kumar has been serving as Executive Director since October 9, 2023
- Previously managed Delhi Circle Office overseeing business of more than Rs 2.5 lakh crore
CareEdge Global Ratings has assigned a 'CareEdge BBB+/Stable' rating to Canara Bank's USD 3 billion Medium-Term Notes (MTN) programme. The rating factors in the bank's majority ownership by the Government of India (62.9% stake) and its systemic importance with over 5% share of Indian banking advances and deposits. Canara Bank reported a comfortable capital adequacy ratio of 17.0% and CET-1 of 12.8% as of March 31, 2026. This rating facilitates potential overseas capital raising via senior debt issuance under the programme.
- Assigned 'CareEdge BBB+/Stable' rating for USD 3 billion Medium-Term Notes (MTN) programme
- Government of India holds a 62.9% stake in the bank as of June 30, 2026
- Bank maintains a capital adequacy ratio (CAR) of 17.0% and CET-1 of 12.8% as of March 31, 2026
- Consolidated total assets stood at approximately Rs 18.9 trillion as of March 31, 2026
Canara Bank has notified stock exchanges that it uploaded an Offering Circular on the Singapore Stock Exchange (SGX) regarding its existing Medium Term Note (MTN) programme. This filing follows earlier communications dated August 29, September 3, and September 21, 2026. The specific issuance quantum and pricing terms were not disclosed in the filing. Canara Bank holds a net worth of ₹1,13,382 Cr and a market cap of ₹1,11,512 Cr.
- Uploaded Offering Circular on SGX for its existing Medium Term Note programme
- References previous updates dated 29.08.2026, 03.09.2026, and 21.09.2026
- Filing made on 22.09.2026 confirming circular hosting on Singapore Exchange
- Specific drawdown quantum and pricing terms were not disclosed
Financial Performance
Revenue Growth by Segment
Advances grew 14% YoY in Q2 FY26, with a specific increase of INR 55,000 Cr in the quarter. Retail advances grew to INR 211,000 Cr from INR 195,000 Cr in the previous quarter (approx. 8.2% QoQ). Corporate sanction pipeline stands at INR 50,000 Cr to INR 55,000 Cr.
Geographic Revenue Split
Not disclosed in available documents, though the bank operates as the 4th largest Public Sector Bank in India with international presence in Tanzania.
Profitability Margins
Net Profit grew by more than 18% YoY in Q2 FY26. Net Interest Margin (NIM) moderated to 1.82% in FY25 from 1.97% in FY24 and further declined to 1.63% in Q1 FY26 due to interest spread compression. Return on Assets (RoA) stood at 1.12% (annualized) in Q1 FY26 compared to 1.08% in FY25.
EBITDA Margin
Core operating profitability as a percentage of Average Total Assets (ATA) was 1.63% in Q1 FY26, down from 1.82% in FY25. Net Profit for FY26 is expected to exceed INR 20,000 Cr, up from INR 17,027 Cr in FY25 (approx. 17.5% projected growth).
Capital Expenditure
The bank is investing in a new comprehensive technology platform for Canara Bank Securities Limited and plans to inject fresh capital into the subsidiary to strengthen its capital market presence.
Credit Rating & Borrowing
Reaffirmed [ICRA]AAA (Stable) for Basel III Tier II bonds (INR 8,900 Cr) and [ICRA]AA+ (Stable) for Basel III Tier I bonds (INR 7,500 Cr). Certificates of Deposit assigned [ICRA]A1+ (INR 10,000 Cr). Yield on investments increased slightly from 6.88% to 6.90%.
Operational Drivers
Raw Materials
Not applicable for banking; primary 'raw material' is deposits. Total deposits market share is 6.4% as of March 2025. Retail deposits form the core of the robust franchise.
Capacity Expansion
Current market share is 5.8% in net advances and 6.4% in total deposits. The bank is expanding its digital interface and revamping its securities subsidiary to capture more capital market business.
Raw Material Costs
Cost of funds is impacted by the shift toward digital banking and competitive retail deposit pricing. Credit costs remained manageable at 0.55% of ATA in Q1 FY26, down from 0.69% in FY24.
Manufacturing Efficiency
Capacity utilization is reflected in the SMA (Special Mention Accounts) position, where SMA 0, 1, and 2 combined are now less than 3% of the total book, down from approximately 5%.
Logistics & Distribution
Distribution is driven by digital STP (Straight Through Processing) and a physical branch network; digital investments are aimed at reducing operating costs.
Strategic Growth
Expected Growth Rate
14%
Growth Strategy
Achieving growth through a 14% expansion in advances, focusing on a 60:40 RAM (Retail, Agri, MSME) to Corporate mix. Strategy includes unlocking value in subsidiaries (Canara HSBC Life and Canara Robeco AMC stake sales for INR 2,150 Cr in Q3 FY26) and entering M&A financing within one quarter.
Products & Services
Retail loans, corporate credit, agricultural financing, MSME loans, savings/current accounts, term deposits, life insurance, asset management, and securities trading.
Brand Portfolio
Canara Bank, Canara Robeco, Canara HSBC Life Insurance, Canara Bank Securities Limited, Can Fin Homes.
New Products/Services
M&A (Merger and Acquisition) financing is a new focus area with a policy being drafted; expected to be active within one quarter to capture AAA-rated transactions.
Market Expansion
Focusing on revamping Canara Bank Securities Limited with a new technology platform to capture the growing corporate and capital market segment.
Market Share & Ranking
4th largest Public Sector Bank and 6th largest bank in the Indian financial system by total business.
Strategic Alliances
Joint ventures include Canara HSBC Life Insurance (36.5% stake) and Canara Robeco AMC (38% stake) following the October 2025 stake reduction.
External Factors
Industry Trends
The industry is shifting toward the Expected Credit Loss (ECL) framework (mandatory by April 1, 2027). Canara is positioning itself by creating advance buffers from current comfortable profits to minimize future impact on CRAR.
Competitive Landscape
Competes with other large PSBs (SBI, PNB, BoB) and private banks. Currently maintains a 5.8% market share in net advances.
Competitive Moat
Durable moat through sovereign ownership (Government of India support) and a robust retail deposit franchise (6.4% market share). This provides a low-cost funding base that is sustainable due to the bank's legacy and scale.
Macro Economic Sensitivity
Highly sensitive to RBI policy rates; expected rate cuts are projected to put pressure on NIMs. MSME and retail borrowers are sensitive to macroeconomic shocks and overleveraging.
Consumer Behavior
Increasing shift toward digital banking and capital market participation (demat accounts), prompting the bank to revamp its securities subsidiary.
Geopolitical Risks
Geopolitical issues are cited as a monitorable risk that could adversely impact asset quality metrics and borrower repayment capacity.
Regulatory & Governance
Industry Regulations
Transition to ECL framework by April 2027 is the primary regulatory shift. The bank maintains a CET1 ratio of 12.21%, well above the regulatory minimum.
Environmental Compliance
Indirect exposure to environmental risks through the loan portfolio; businesses facing climate transition risks could impact the bank's credit risk.
Taxation Policy Impact
The bank manages tax refunds efficiently; NIM is monitored both with and without IT refund adjustments.
Legal Contingencies
The bank manages a technical write-off portfolio of INR 71,000 Cr; specific pending court case values for labor or consumer disputes are not disclosed in the provided documents.
Risk Analysis
Key Uncertainties
The impact of the ECL framework implementation on capital position and the seasoning of the loan book following high growth years (14% YoY) are key uncertainties.
Geographic Concentration Risk
Primarily concentrated in India; 4th largest PSB with a nationwide footprint.
Third Party Dependencies
Dependency on technology vendors for the new 'comprehensive platform' for the securities subsidiary and digital banking STP.
Technology Obsolescence Risk
Risk of falling behind in digital banking; mitigated by ongoing investments in STP and revamping subsidiary technology platforms.
Credit & Counterparty Risk
NNPA/Core Capital improved to 7.29% from 14.2% YoY, indicating significantly reduced counterparty risk. SMA 1 and 2 levels have 'drastically' come down.
