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Canara Bank Q2: Advances Outpace Deposits, Global Business Soars 16%
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CNBC TV18•01-10-2026, 16:24
Canara Bank Q2: Advances Outpace Deposits, Global Business Soars 16%
- •Canara Bank reported robust Q2 growth with domestic advances up 16.8% to ’12.63 lakh crore and global business increasing 15.8% to ’30.71 lakh crore.
- •Domestic deposits grew 11% year-on-year to ’15.48 lakh crore, as the bank shifts focus to strengthening its deposit franchise and replacing high-cost bulk deposits.
- •MD & CEO Brajesh Kumar Singh stated the bank expects to surpass its 11-12% loan growth guidance for FY27 and is prioritizing deposits, especially individual savings bank deposits.
- •Canara Bank sees significant opportunities in the payments business, aiming for a larger role in UPI transactions through its Ai1 app and 11 crore customer base.
- •The bank plans to raise up to ’4,500 crore via Basel III-compliant Additional Tier 1 bonds and up to ’4,000 crore through Tier 2 bonds to bolster capital.
Key Questions Answered
During the second quarter, Canara Bank reported that domestic advances rose 16.8% year-on-year to ₹12.63 lakh crore, while global business grew 15.8% to reach ₹30.71 lakh crore. Additionally, total domestic deposits increased by 11% year-on-year to ₹15.48 lakh crore compared to ₹13.95 lakh crore previously.
In September, Canara Bank's board authorized a capital-raising plan of up to ₹4,500 crore through Basel III-compliant Additional Tier 1 (AT-1) perpetual bonds with a five-year call option, along with up to ₹4,000 crore through Tier 2 bonds.
Canara Bank continues to experience healthy credit demand across several key sectors, specifically including power generation, green energy, and data centers.
