Canara Bank posted a 5% quarter-on-quarter increase in advances, underpinned by strong demand in its retail and micro, small and medium enterprise (MSME) segments.
Retail lending expanded 36% year-on-year and 7% quarter-on-quarter, while MSME loans grew 15% annually and 7% sequentially.
52%. This figure sits at the lower end of the range for state-owned enterprises in India.
Corporate advances contributed a more modest 4% quarterly gain, indicating a clear shift in credit appetite toward smaller borrowers and consumers.
The public sector lender reported net interest income (NII) in line with expectations, though net interest margins (NIMs) remained flat at 2.52%.
This figure sits at the lower end of the range for state-owned enterprises in India.
The bank passed on a 22 basis point quarter-on-quarter benefit from lower cost of funds to borrowers, which resulted in a 29 basis point decline in asset yields.