Canara Bank

Canara Bank's npls (as % of loans) fell 27.1% to 8.78% in 2018

By Helgi Analytics - November 05, 2019

Canara Bank's non-performing loans reached 8.78% of total loans at the end of 2018, down from 12.0% compared to the previous year...

Canara Bank's net interest income rose 18.9% to INR 146 bil in 2018

By Helgi Analytics - November 05, 2019

Canara Bank generated total banking revenues of INR 219 bil in 2018, up 11.7% compared to the previous year. Historically...

Canara Bank's net interest margin rose 8.65% to 2.17% in 2018

By Helgi Analytics - November 05, 2019

Canara Bank's net interest margin amounted to 2.17% in 2018, up from 2.00% compared to the previous year. Historically, th...

Profit Statement 2016 2017 2018
Net Interest Income INR bil 99.7 123 146
Fee Income (As % Of Revenues) % 7.17 5.54 5.16
Other Income INR bil 65.2 62.7 62.0
Total Revenues INR bil 178 196 219
Operating Profit INR bil 91.6 98.0 5.50
Provisions INR bil 79.2 139 0
Net Profit INR bil 13.6 -39.5 6.02
Balance Sheet 2016 2017 2018
Interbank Loans INR bil 390 281 366
Customer Loans INR bil 3,423 3,821 4,281
Debt Securities INR bil 1,611 1,563 1,673
Total Assets INR bil 5,962 6,314 7,118
Shareholders' Equity INR bil 352 374 384
Interbank Borrowing INR bil 269 269 299
Customer Deposits INR bil 4,953 5,248 5,991
Issued Debt Securities INR bil 140 133 127
Ratios 2016 2017 2018
ROE % 3.99 -10.9 1.59
ROA % 0.234 -0.644 0.090
Costs (As % Of Assets) % 1.49 1.60 3.18
Costs (As % Of Income) % 48.5 50.1 97.5
Capital Adequacy Ratio % 13.0 ... 11.9
Net Interest Margin % 1.72 2.00 2.17
Loans (As % Of Deposits) % 69.1 72.8 71.5
NPLs (As % Of Loans) % 9.75 12.0 8.78
Provisions (As % Of NPLs) % 31.2 26.2 47.8
Valuation 2016 2017 2018
Market Capitalisation (End Of Period) USD mil 2,661 3,037 3,144
Share Price (End Of Period) INR 333 323 298
Price/Earnings (P/E) 13.3 ... 36.5
Price/Book Value (P/BV) 0.514 0.517 0.572
Dividend Yield % 0 0 0
Earnings Per Share (EPS) INR 25.0 -65.9 8.18
Book Value Per Share INR 647 624 521
Dividend Per Share INR 0 0 0

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summary Unit 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
income statement                                  
Net Interest Income INR bil                     79.3 90.3 97.6 98.4 99.7    
Total Revenues INR bil                     112 131 144 149 178    
Operating Profit INR bil                     59.9 69.9 71.3 73.2 91.6    
Net Profit INR bil                     29.7 26.3 28.6 -26.1 13.6    
balance sheet                                  
Interbank Loans INR bil                     194 227 267 361 390    
Customer Loans INR bil                     2,424 3,013 3,303 3,250 3,423    
Debt Securities INR bil                     1,271 1,348 1,545 1,515 1,611    
Total Assets INR bil                     4,193 5,011 5,586 5,637 5,962    
Shareholders' Equity INR bil                     254 305 329 329 352    
Interbank Borrowing INR bil                     127 172 147 146 269    
Customer Deposits INR bil                     3,557 4,206 4,737 4,797 4,953    
Issued Debt Securities INR bil                     87.1 113 121 136 140    
ratios                                  
ROE %                     12.2 9.41 9.04 -7.93 3.99    
ROA %                     0.744 0.572 0.541 -0.465 0.234    
Costs (As % Of Assets) %                     1.30 1.33 1.37 1.35 1.49    
Costs (As % Of Income) %                     46.4 46.7 50.5 50.9 48.5    
Capital Adequacy Ratio % ... ... ... ... ... ... ... ...     12.6 10.8 10.7 11.2 13.0 ...  
Net Interest Margin %                     1.99 1.96 1.84 1.75 1.72    
Interest Income (As % Of Revenues) %                     70.9 68.9 67.8 66.0 56.1    
Fee Income (As % Of Revenues) %                     7.77 7.50 6.92 6.67 7.17    
Equity (As % Of Assets) %                     6.06 6.08 5.88 5.83 5.90    
Loans (As % Of Deposits) %                     68.2 71.6 69.7 67.7 69.1    
Loans (As % Assets) %                     57.8 60.1 59.1 57.7 57.4    
NPLs (As % Of Loans) % ... ... ... ... ... ...         2.57 2.50 3.97 9.67 9.75    
Provisions (As % Of NPLs) % ... ... ... ... ... ...         14.9 20.6 11.8 13.4 31.2    
valuation                                  
Market Capitalisation (End Of Period) USD mil                     3,105 1,973 2,772 1,556 2,661    
Number Of Shares (Average) mil                     455 460 474 539 544    
Share Price (End Of Period) INR                     374 265 369 191 333    
Earnings Per Share (EPS) INR                     65.2 57.2 60.4 -48.3 25.0    
Book Value Per Share INR                     558 663 693 609 647    
Dividend Per Share INR                     12.6 11.0 11.4 0 0    
Price/Earnings (P/E)                     5.73 4.64 6.10 ... 13.3 ...  
Price/Book Value (P/BV)                     0.670 0.400 0.532 0.314 0.514    
Dividend Yield %                     3.39 4.16 3.10 0 0    
Earnings Per Share Growth % ...                   -11.1 -12.3 5.66 -180 -152    
Book Value Per Share Growth % ...                   9.50 18.8 4.58 -12.1 6.24    
income statement Unit 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
income statement                                  
Interest Income INR bil                     341 396 439 441 415    
Interest Cost INR bil                     262 306 341 343 315    
Net Interest Income INR bil                     79.3 90.3 97.6 98.4 99.7    
Net Fee Income INR bil                     8.68 9.83 9.97 9.94 12.7    
Other Income INR bil                     23.8 30.9 36.4 40.7 65.2    
Total Revenues INR bil                     112 131 144 149 178    
Operating Cost INR bil                     51.8 61.2 72.7 75.9 86.1    
Operating Profit INR bil                     59.9 69.9 71.3 73.2 91.6    
Provisions INR bil                     30.5 44.0 42.9 99.9 79.2    
Extra and Other Cost INR bil                     -0.479 -0.851 -0.883 -1.35 -1.79    
Pre-Tax Profit INR bil                     29.9 26.7 29.3 -25.4 14.1    
Tax INR bil                     0 0 0 0 0    
Minorities INR bil                     0.251 0.421 0.664 0.719 0.525    
Net Profit INR bil                     29.7 26.3 28.6 -26.1 13.6    
Dividends INR bil                     5.76 5.07 5.41 0 0    
growth rates                                  
Net Interest Income Growth % ...                   2.07 14.0 8.04 0.874 1.31    
Net Fee Income Growth % ...                   -3.15 13.2 1.44 -0.270 28.2    
Total Revenue Growth % ...                   3.86 17.3 9.86 3.54 19.2    
Operating Cost Growth % ...                   7.50 18.1 18.8 4.49 13.4    
Operating Profit Growth % ...                   0.903 16.6 2.04 2.58 25.1    
Pre-Tax Profit Growth % ...                   -9.42 -10.8 9.68 -186 -156    
Net Profit Growth % ...                   -11.1 -11.4 8.92 -191 -152    
market share                                  
Market Share in Revenues % ... ... ... ... ... ... ... ... ...   4.73 4.86 4.74 4.43 4.42   ...
Market Share in Net Profit % ... ... ... ... ... ... ... ... ...   5.02 4.88 5.25 ... ... ... ...
balance sheet Unit 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
balance sheet                                  
Cash INR bil                     154 222 220 207 199    
Interbank Loans INR bil                     194 227 267 361 390    
Customer Loans INR bil                     2,424 3,013 3,303 3,250 3,423    
Debt Securities INR bil                     1,271 1,348 1,545 1,515 1,611    
Fixed Assets INR bil                     28.8 66.6 69.7 72.1 71.9    
Total Assets INR bil                     4,193 5,011 5,586 5,637 5,962    
Shareholders' Equity INR bil                     254 305 329 329 352    
Of Which Minority Interest INR bil                     2.32 3.14 3.79 4.49 4.98    
Liabilities INR bil                     3,939 4,706 5,257 5,309 5,610    
Interbank Borrowing INR bil                     127 172 147 146 269    
Customer Deposits INR bil                     3,557 4,206 4,737 4,797 4,953    
Sight Deposits INR bil                     147 177 197 198 226    
Term Deposits INR bil                     3,410 4,029 4,540 4,599 4,727    
Issued Debt Securities INR bil                     87.1 113 121 136 140    
Other Liabilities INR bil                     168 215 252 229 248    
asset quality                                  
Non-Performing Loans INR bil ... ... ... ... ... ...         62.6 75.7 132 319 344    
Gross Loans INR bil                     2,434 3,029 3,319 3,292 3,531    
Total Provisions INR bil ... ... ...               9.33 15.6 15.6 42.5 107    
growth rates                                  
Customer Loan Growth % ...                   4.17 24.3 9.61 -1.61 5.33    
Total Asset Growth % ...                   10.6 19.5 11.5 0.925 5.75    
Shareholders' Equity Growth % ...                   9.50 20.0 7.81 -0.035 7.07    
Customer Deposit Growth % ...                   8.81 18.3 12.6 1.27 3.23    
market share                                  
Market Share in Customer Loans % ... ...                 4.39 4.69 4.65 4.08 4.15   ...
Market Share in Total Assets %                     4.83 4.95 5.01 4.47 4.20   ...
Market Share in Customer Deposits %                     5.65 5.84 5.80 5.25 4.65   ...
ratios Unit 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
ratios                                  
ROE %                     12.2 9.41 9.04 -7.93 3.99    
ROA %                     0.744 0.572 0.541 -0.465 0.234    
Costs (As % Of Assets) %                     1.30 1.33 1.37 1.35 1.49    
Costs (As % Of Income) %                     46.4 46.7 50.5 50.9 48.5    
Capital Adequacy Ratio % ... ... ... ... ... ... ... ...     12.6 10.8 10.7 11.2 13.0 ...  
Tier 1 Ratio % ... ... ... ... ... ... ... ...     9.99 7.79 8.11 8.89 9.88 ...  
Net Interest Margin %                     1.99 1.96 1.84 1.75 1.72    
Interest Spread % ...                   1.56 1.53 1.43 1.37 1.38    
Asset Yield %                     8.55 8.61 8.28 7.86 7.16    
Cost Of Liabilities % ...                   6.99 7.08 6.85 6.49 5.78    
Payout Ratio %                     19.4 19.3 18.9 0 0    
Interest Income (As % Of Revenues) %                     70.9 68.9 67.8 66.0 56.1    
Fee Income (As % Of Revenues) %                     7.77 7.50 6.92 6.67 7.17    
Other Income (As % Of Revenues) %                     21.3 23.6 25.3 27.3 36.7    
Equity (As % Of Assets) %                     6.06 6.08 5.88 5.83 5.90    
Loans (As % Of Deposits) %                     68.2 71.6 69.7 67.7 69.1    
Loans (As % Assets) %                     57.8 60.1 59.1 57.7 57.4    
NPLs (As % Of Loans) % ... ... ... ... ... ...         2.57 2.50 3.97 9.67 9.75    
Provisions (As % Of NPLs) % ... ... ... ... ... ...         14.9 20.6 11.8 13.4 31.2    
Provisions (As % Of Loans) % ... ... ...               0.385 0.518 0.473 1.31 3.14    
Cost of Provisions (As % Of Loans) %                     1.28 1.62 1.36 3.05 2.37    
other data Unit 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
other data                                  
Employees                     42,693 48,794 53,984 54,008 55,717    
Sight (As % Of Customer Deposits) %                     4.14 4.22 4.16 4.13 4.56    

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Canara Bank's price/earnings (P/E) rose 174% to 36.5 in 2018

By Helgi Analytics - November 05, 2019

Canara Bank stock traded at INR 298 per share at the end 2018 implying a market capitalization of USD 3,144 mil. Since the end of 2013, the stock has appreciated by 12.5 % implying an annual average growth of 2.38 %. In absolute terms, the value of the company ro...

Canara Bank's capital adequacy ratio fell 8.18% to 11.9% in 2018

By Helgi Analytics - November 05, 2019

Canara Bank's capital adequacy ratio reached 11.9% at the end of 2018, up from compared to the previous year. Historically, the bank’s capital ratio hit an all time high of 15.2% in 2010 and an all time low of 10.7% in 2014. The Tier 1 ratio amounted to ...

Canara Bank's share price (end of period) fell 7.71% to INR 298 in 2018

By Helgi Analytics - November 05, 2019

Canara Bank stock traded at INR 298 per share at the end of 2018 implying a market capitalization of USD 3,144 mil. Since the end of 2013, the stock has appreciated by 12.5 % implying an annual average growth of 2.38 %. In absolute terms, the value of the company ...

Canara Bank's customer loan growth rose 3.76% to 12.1% in 2018

By Helgi Analytics - November 05, 2019

Canara Bank's customer loan growth reached 12.1% in 2018, up from 11.6% compared to the previous year. Historically, the bank’s loans growth reached an all time high of 175% in 2008 and an all time low of -49.1% in 2007. In the last decade, the average an...

Canara Bank's customer loans rose 12.0% to INR 3,821 bil in 2018

By Helgi Analytics - November 05, 2019

Canara Bank's customer loans reached INR 3,821 bil in 2017, up 11.6% compared to the previous year. Indian banking sector provided customer loans of INR 88,362 bil in 2017, up 7.04% when compared to the last year. Canara Bank accounted for 4.32% of all cu...

Canara Bank's customer deposits rose 14.2% to INR 5,248 bil in 2018

By Helgi Analytics - November 05, 2019

Canara Bank's customer deposits reached INR 5,248 bil in 2017, up 5.97% compared to the previous year. Indian banking sector accepted customer deposits of INR 110,303 bil in 2017, up 3.61% when compared to the last year. Canara Bank accounted for 4.76% of...

Canara Bank's total revenues rose 11.7% to INR 196 bil in 2018

By Helgi Analytics - November 05, 2019

Canara Bank generated total banking revenues of INR 196 bil in 2017, up 10.5% compared to the previous year. Indian banking sector banking sector generated total revenues of INR 4,320,359 mil in 2017, up 7.41% when compared to the last year. As ...

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Finance

Canara Bank has been growing its revenues and asset by 12.1% and 12.4% a year on average in the last 10 years. Its loans and deposits have grown by 12.0% and 12.4% a year during that time and loans to deposits ratio reached 71.5% at the end of 2018. The company achieved an average return on equity of 7.68% in the last decade with net profit growing -11.6% a year on average. In terms of operating efficiency, its cost to income ratio reached 97.5% in 2018, compared to 52.2% average in the last decade.

Equity represented 5.39% of total assets or 8.96% of loans at the end of 2018. Canara Bank's non-performing loans were 8.78% of total loans while provisions covered some 47.8% of NPLs at the end of 2018.

Valuation

Canara Bank stock traded at INR 298 per share at the end of 2018 resulting in a market capitalization of USD 3,144 mil. Over the previous five years, stock price rose by 12.5% or 2.38% a year on average. That’s compared to an average ROE of -0.839% the bank generated for its shareholders. This closing price put stock at a 12-month trailing price to earnings (PE) of 36.5x and price to book value (PBV) of 0.572x in 2018.