Canara Bank Q1 results: Net profit up 2% at Rs 4,856 crore; NII rises 13%

State-owned Canara Bank Ltd on Monday reported a 2.2 per cent year-on-year (YoY) rise in standalone net profit for the June quarter of FY27.

The lender posted a net profit of Rs 4,856 crore in Q1 FY27, compared with Rs 4,752 crore in the corresponding quarter last year.

Net interest income (NII) -- the difference between interest earned and interest expended -- increased 13.39 per cent YoY to Rs 10,215 crore from Rs 9,009 crore in Q1 FY26. Meanwhile, fee income rose 5.35 per cent to Rs 2,342 crore during the quarter.

Canara Bank said its global business expanded 14.37 per cent YoY to Rs 29,05,066 crore as of June 2026. Global deposits grew 11.63 per cent to Rs 16,11,685 crore, while global gross advances increased 17.97 per cent to Rs 12,93,381 crore.

On the domestic front, deposits stood at Rs 14,73,447 crore, registering a 10.06 per cent YoY increase. Domestic gross advances rose 16.95 per cent to Rs 12,07,087 crore.

RAM (Retail, Agriculture and MSME) credit increased 21.20 per cent YoY to Rs 7,64,675 crore, while the retail lending portfolio surged 35.88 per cent to Rs 3,19,893 crore. The housing loan portfolio grew 17.85 per cent to Rs 1,29,036 crore.

Asset quality improved further during the quarter. The bank's gross non-performing asset (GNPA) ratio declined to 1.57 per cent as of June 2026 from 1.84 per cent in March 2026 and 2.69 per cent a year earlier.

Similarly, the net non-performing asset (NNPA) ratio improved to 0.36 per cent, compared with 0.43 per cent in the March quarter and 0.63 per cent in the year-ago period.

As of June 30, 2026, Canara Bank had a network of 10,131 branches across the country.

Meanwhile, shares of Canara Bank were last seen trading 1.47 per cent higher at Rs 127.55 in Monday's fag-end trade.