Fitch Ratings has assigned Canara Bank`s (BBB-/Stable) proposed senior unsecured notes an expected rating of `BBB-(EXP)`. The notes will constitute Canara`s direct, unconditional, unsubordinated and unsecured obligations and will at all times rank pari passu among themselves and with all of Canara`s other unsubordinated and unsecured obligations.Powered by Capital Market - Live News

India Ratings and Research (Ind-Ra) has affirmed Canara Bank`s Long-Term Issuer Rating at `IND AAA`. The Outlook is Stable. The instrument-wise rating actions are as follows:  InstrumentsAmount (Rs crore) Rating    Basel III ATI Bonds4,000  IND AA+/ Stable   Infrastructure Bonds 10,000  IND AAA/ Stable  Basel III Tier 2 instruments (yet to be issued)12,900  IND AAA/ Stable  Basel III AT1 bonds 12,436.1  IND AA+/ Stable Powered by Capital Market - Live News

Canara Bank has revised the Marginal Cost of Funds Based Lending Rate (MCLR) by 5 bps across tenors w.e.f. 12 August 2024. MCLR TenorRate    Overnight 8.25%    One months 8.35%    Three months8.45%    Six months 8.80%    One year 9.00%    Two year 9.30%    Three year 9.40%  Powered by Capital Market - Live News

Canara Bank has appointed Prabhat Kiran, General Manager as Functional Head of Large Corporate Credit Wing of the bank in place of K H Patnaik, Chief General Manager who has retired from the services of the bank. Powered by Capital Market - Live News

Net profit of Canara Bank rose 8.79% to Rs 4067.51 crore in the quarter ended June 2024 as against Rs 3738.93 crore during the previous quarter ended June 2023. Total Operating Income rose 14.63% to Rs 29172.97 crore in the quarter ended June 2024 as against Rs 25450.79 crore during the previous quarter ended June 2023. ParticularsQuarter EndedJun. 2024Jun. 2023% Var. Total Operating Income29172.9725450.79 15 OPM %58.8356.82 - PBDT5422.034932.89 10 PBT5422.034932.89 10 NP4067.513738.93 9 Powered by Capital Market - Live News