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Canara Bank's Q2 Soars: Credit Up 19.4%, Deposits Grow 13.1% Exceeding FY27 Targets!
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Moneycontrol•01-10-2026, 17:06
Canara Bank's Q2 Soars: Credit Up 19.4%, Deposits Grow 13.1% Exceeding FY27 Targets!
- •Canara Bank's Q2 global advances surged 19.35% year-on-year to Rs 13.74 lakh crore, surpassing full-year guidance.
- •Global deposits increased by 13.13% year-on-year, reaching Rs 16.97 lakh crore, also exceeding targets.
- •The bank's Q2 growth rates for both advances and deposits are ahead of its ambitious FY27 targets of 10-12% for advances and 9-10% for deposits.
- •Domestic advances grew 16.83% year-on-year to Rs 12.63 lakh crore, while domestic deposits rose 10.96% year-on-year to Rs 15.48 lakh crore.
- •Retail, Agriculture, and MSME (RAM) advances continued strong growth, increasing 21% year-on-year to Rs 8.12 lakh crore.
Key Questions Answered
Canara Bank's global advances rose by 19.35 percent year-on-year to Rs 13.74 lakh crore, while global deposits increased by 13.13 percent to reach Rs 16.97 lakh crore in the September quarter.
The bank's Q2 performance remained ahead of its full-year targets, having previously guided for 10-12 percent growth in advances and 9-10 percent growth in deposits for FY27.
The retail, agriculture, and MSME (RAM) portfolio grew faster than the overall loan book, with RAM advances increasing by 21 percent year-on-year to Rs 8.12 lakh crore.
