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Robust Q2 Results Push Canara Bank to Multi-Year Highs
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Canara Bank’s Q2 profit jumped 19% to ₹4,774 crore, propelling shares to 15-year highs amid strong margins and asset-quality improvement.
Public-sector lender Canara Bank touched a 15-year high after reporting strong second-quarter earnings marked by a 19% year-on-year profit increase to ₹4,774 crore. The performance was underpinned by improving interest spreads, stable asset quality, and strong credit growth. Analysts applauded its prudent cost controls and sustained reduction in NPAs. The bank’s retail and MSME segments led loan expansion while capital adequacy remained healthy. Management reaffirmed its commitment to profitable growth through technology-driven efficiency and balance-sheet diversification initiatives.