Canara Bank Eyes Two More NARCL Transfers, Valuation Talks Ongoing

• Canara Bank has identified two additional legacy accounts for potential transfer to NARCL in Q4, with valuation discussions among lenders still in progress.
• The bank has already transferred one account to NARCL this fiscal year, continuing its strategy to clean up stressed assets.
• Profit growth was strong, with net profit up 25.61% year-on-year to ₹5,155 crore, driven by robust credit growth of 13.59% and increased operating profit.
• Canara Bank is aggressively focusing on the RAM (Retail, Agriculture, MSME) segment, aiming for a 60:40 RAM-to-corporate mix, currently at 59:41.
• Treasury income saw a sharp rise due to gains from offloading stakes in Canara HSBC Life and Canara Robeco, and capitalizing on arbitrage opportunities post repo rate cuts.