NII in line; controlled opex drives earnings beat

Company
30 Oct 2024
5 Min read 
  • Canara Bank's financials and valuations show a positive trend.
  •  The bank reported an earnings beat led by controlled opex.
  •  Loan growth was led by the retail segment, especially the gold loan book.
  •  Deposit growth was modest, and the CASA ratio witnessed sequential improvement.
  •  Overall asset quality ratios improved, with slippages also seeing an improvement.
  •  Management expects credit costs to be below 1% for FY25.
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