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Canara Bank biz up 15.8% in Q1

Source : BUSINESS_STANDARD
Last Updated: Tue, Jul 22, 2014 02:00 hrs
A cashier counts currency notes as customers wait inside a bank in Hyderabad

Canara Bank, the Bangalore-based public sector lender, today said its global business grew 15.8 per cent to Rs 7,31,940 crore during the first quarter-ended June 30, 2014, compared to Rs 6,31,863 crore in the same quarter last year.

Global deposits of the bank increased to Rs 4,28,976 crore compared to Rs 3,81,972 crore as of June 2013, showing a growth of 12.3 per cent. Global advances (Net) reached a level of Rs 3,02,964 crore compared to Rs 2,49,891 core as of June 2013, showing a growth of 21.2 per cent, said R K Dubey, chairman and managing director.



The bank's domestic business constituted over 94 per cent of the total business. The total business of the foreign branches increased to Rs 41,194 crore from Rs 35,480 crore, Dubey told reporters, here on Monday.

Canara Bank, which opened 225 branches and 197 ATMs during the first quarter, said its CASA (current account savings account) deposits to domestic deposits was maintained at 24.15 per cent, same level as last year. The bank's savings deposits reached Rs 81,594 crore as of June 2014 compared to Rs 73,938 crore as of June 2013.

Its clientele base increased to 56.5 million, comprising of 49.8 million under deposit and 6.7 million under borrowal accounts. Over 6.6 million clientele were added during the year.

Outstanding advances to the various priority segments rose to Rs 1,03,694 crore compared to Rs 83,085 crore as of June 2013, registering a growth of 24.8 per cent year-on-year.

Advances under agriculture portfolio increased by 24.6 per cent to reach Rs 53,956 crore, achieving 18.66 per cent to ANBC as against the mandated target of 18 per cent, he said.

Credit to micro, small and medium enterprises (MSME) reached Rs 49,316 crore, with a year-on-year growth of 32.7 per cent.

Credit to the micro and small enterprises (M&SE) reached Rs 37,186 crore, with a Y-o-Y growth of 33.4 per cent (against the mandated norm of 20 per cent). The number of micro enterprises accounts recorded a growth of 63.3 per cent against the mandated norm of 10 per cent.

Credit to women beneficiaries increased to Rs 37,173 crore (15.95 per cent as against the 5 per cent norm). Retail lending portfolio increased to Rs 36,197 crore, with a Y-o-Y growth of 43.5 per cent. The share of retail credit in net credit increased to 12.62 per cent compared to 10.71 per cent last year.

Outstanding housing loan portfolio increased to Rs 20,347 crore, making up over 56 per cent of the total retail portfolio. Other personal loans grew 69 per cent to Rs 10,804 crore, of which, vehicle loans registered a growth of 59.5 per cent to reach Rs 3,335 crore.

Education loan portfolio rose to Rs 5,046 crore, with Y-o-Y growth of 14.3 per cent and covering 250,000 students.

The bank's branches crossed the 5,000 mark, with the opening of 253 domestic branches and two overseas branches, at Johannesburg, South Africa and New York, USA during the quarter. As of June 2014, the bank had 5,010 branches, including seven overseas branches. On July 19, 2014, the banks' nationalisation day, 108 financial Inclusion branches and 108 ATMs were opened across the country.

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