HDFC Bank Limited
NSE: HDFCBANK
Financial Services · Banks - Regional
₹704.90 last close on 12 Oct 2026 −0.33%
Research updated
Canara Bank
NSE: CANBKFinancial ServicesBanks - Regional
- Last close
- ₹118.38
- Day change
- −₹1.21 (−1.01%)vs
- Market cap
- ₹1.07 lakh crIndian rupees
- Research updated
- 1 report
About Canara Bank
Canara Bank is a major public sector bank in India, primarily engaged in providing a comprehensive suite of banking and financial services to individuals, businesses, and the government sector. Established in 1906 and nationalized in 1969, its legacy spans decades of service in retail banking, corporate finance, and treasury operations. The bank’s portfolio includes traditional savings and deposit products, loans, wealth management solutions, and digital banking services. Canara Bank has a prominent role in supporting India’s economic growth, particularly through lending to small and medium enterprises (SMEs), agriculture, infrastructure, and priority sectors. Recent financial metrics highlight strong profitability, with a robust net profit margin and an improving asset quality, reflected in its declining non-performing asset (NPA) ratios. The bank demonstrated steady growth in both advances and deposits, underscoring its significance in India’s banking landscape. With a healthy capital base, consistent dividend payouts, and a broad national presence, Canara Bank remains pivotal in the development of financial inclusion and in providing essential banking services to a diverse clientele. Its ongoing emphasis on technological innovation further enhances its operational efficiency and customer reach.
- Sector
- Financial Services
- Industry
- Banks - Regional
- Listing
- NSE: CANBK
- Chief executive
- Brajesh Kumar Singh
- Employees
- 81,827
- Headquarters
- Bengaluru, India
- ISIN
- INE476A01022
- Website
- canarabank.bank.in
Public research · Report of
Business model & financial foundation
Canara Bank (NSE: CANBK), Public sector bank: revenue of ₹1,53,204 crore in FY26 (+7.7% on FY25) and net profit of ₹19,187 crore.
- Revenue, FY26 (₹ crore)
- 1,53,204
- standalone
- Revenue growth, FY26
- +7.7%
- on FY25
- Net profit, FY26 (₹ crore)
- 19,187
- to owners
- Return on equity, FY26
- 20.0%
- on average equity
- Market capitalisation (₹ crore)
- 1,12,204
- at the close of 12 Oct 2026
Company profile
Canara Bank is India's fourth-largest public sector bank by business, with global advances of about Rs13.7 lakh crore and deposits of about Rs17.0 lakh crore at 30 Sep 2026 (provisional), and 10,131 domestic branches. The Government of India owns 62.93%. Retail, agriculture and MSME (RAM) lending is 59% of the book; retail is growing above 30% a year. It holds stakes in listed Canara HSBC Life, Canara Robeco AMC and Can Fin Homes.
| Item | Value |
|---|---|
| Legal name | Canara Bank |
| Exchange and ticker | NSE: CANBK; BSE: 532483 |
| ISIN | INE476A01022 |
| Sector | Financials |
| Industry | Public sector bank |
| Headquarters | Bengaluru, India |
| Fiscal year end | March |
| Reporting basis and unit | standalone, in ₹ crore |
| Market capitalisation | ₹1,12,204 crore (12 Oct 2026) |
| Shares outstanding | 907.07 crore shares (FY26) |
| Price | ₹119.6 (close, 12 Oct 2026) |
| 52-week range | ₹116.5 - ₹162.9 (to 12 Oct 2026) |
| Website | https://canarabank.bank.in |
Corporate structure and shareholding
Parent: Government of India (62.93%).
| Entity | Holding | Business |
|---|---|---|
| Canara HSBC Life Insurance Company Ltd | 36.5% | Life insurance; listed NSE: CANHLIFE Oct 2025; associate after OFS |
| Canara Robeco Asset Management Company Ltd | 38% | Mutual fund AMC; listed NSE: CRAMC Oct 2025; associate after OFS |
| Can Fin Homes Ltd | 29.99% | Listed housing finance company; associate |
| Canara Bank Securities Ltd | 100% | Broking |
| Canbank Factors Ltd | 70% | Factoring; sale of 70% to Vidvedaa approved Aug 2026 for Rs80.5 cr |
| Canbank Computer Services Ltd | 69.14% | IT services and RTA |
| Canbank Venture Capital Fund Ltd | 100% | Venture capital |
| Canbank Financial Services Ltd | 100% | Financial services (dormant) |
| CRMF Trustee Private Ltd | 51% | Trustee company for Canara Robeco MF |
Also 9.09% in Higher Education Financing Agency (JV). Bank sold 14.5% of Canara HSBC Life and 13% of Canara Robeco AMC in their Oct 2025 IPOs.
| Shareholding (% of shares) | Q3FY26 | Q4FY26 | Q1FY27 | Q2FY27 |
|---|---|---|---|---|
| Promoter | 62.93% | 62.93% | 62.93% | 62.93% |
| Promoter holding pledged | 0.00% | 0.00% | 0.00% | 0.00% |
| Foreign institutions | 14.62% | 14.24% | 12.68% | 12.27% |
| Domestic institutions | 10.48% | 10.90% | 11.91% | 12.38% |
| of which mutual funds | 4.37% | 5.01% | 6.31% | 7.00% |
| Retail | 11.97% | 11.93% | 12.48% | 12.42% |
| Other | 0.00% | 0.00% | 0.00% | 0.00% |
The promoter holding pledged is a share of the promoter's own holding.
Business model
Canara Bank is a state-owned universal bank (Government of India 62.93%) with global gross advances of Rs13,73,733 cr and deposits of Rs16,97,195 cr at 30 Sep 2026 (provisional). It earns mainly net interest income (Rs37,210 cr in FY26) on a book that is 59% RAM (retail, agri, MSME) and 41% corporate at Jun-26. Non-interest income (Rs26,838 cr FY26) is fee income (Rs9,649 cr), treasury (Rs6,904 cr, including the one-off Rs1,930 cr IPO stake-sale gain), recoveries from written-off accounts (Rs6,537 cr) and PSLC/other receipts (Rs3,748 cr). Cost to income was 48.45% in FY26. About 53% of loans are repo-linked (Q1FY27 call), so policy rates pass to yields at once while deposits (CASA 29.70% of domestic deposits at Jun-26) reprice over 9-12 months. The bank owns 36.5% of Canara HSBC Life, 38% of Canara Robeco AMC and 29.99% of Can Fin Homes. Basis: standalone, since subsidiaries contribute almost nothing (Rs7.28 cr in Q1FY27).
| Peer | Why the dossier compares them |
|---|---|
| State Bank of India (SBIN) | |
| Bank of Baroda (BANKBARODA) | Large PSU bank of similar size and corporate/retail mix |
| Punjab National Bank (PNB) | PSU bank of similar size and market cap; similar NIM compression |
| Union Bank of India (UNIONBANK) | PSU bank, similar balance sheet size and RoA |
| Indian Bank (INDIANB) | |
| Bank of India (BANKINDIA) |
Financial databook
| Profit and loss (₹ crore) | FY24 | FY25 | FY26 |
|---|---|---|---|
| Total income (interest earned + other income) | 1,27,654 | 1,42,208 | 1,53,204 |
| Interest earned | 1,08,688 | 1,19,755 | 1,26,366 |
| Interest expended | 72,122 | 82,683 | 89,156 |
| Net interest income | 36,566 | 37,072 | 37,210 |
| Fee-based income | 7,419 | 8,866 | 9,649 |
| Treasury income | 2,483 | 3,609 | 6,904 |
| Recoveries in written-off accounts | 5,963 | 6,828 | 6,537 |
| Other receipts (PSLC and others) | 3,101 | 3,150 | 3,748 |
| Non-interest (other) income | 18,966 | 22,453 | 26,838 |
| Staff cost | 16,434 | 17,856 | 19,266 |
| Other operating expenses | 9,685 | 10,278 | 11,764 |
| Operating expenses | 26,119 | 28,134 | 31,030 |
| Operating profit (pre-provision) | 29,413 | 31,391 | 33,019 |
| Provisions and contingencies ex tax | 9,708 | 8,763 | 8,112 |
| Profit before tax | 19,705 | 22,628 | 24,907 |
| Income tax | 5,151 | 5,601 | 5,720 |
| Net profit | 14,554 | 17,027 | 19,187 |
| EPS (Rs) (₹) | 16.05 | 18.77 | 21.15 |
| Balance sheet (₹ crore) | FY24 | FY25 | FY26 |
|---|---|---|---|
| Global gross advances | 9,60,602 | 10,73,332 | 12,37,548 |
| Global deposits | 13,12,366 | 14,29,862 | 15,68,678 |
| Net worth (BVPS x shares) | 71,829 | 88,240 | 1,03,451 |
| Other reported lines (₹ crore) | FY24 | FY25 | FY26 |
|---|---|---|---|
| Shares outstanding (crore) | 907.07 | 907.07 | 907.07 |
| Dividend per share (Rs) (₹) | 4.00 | 4.20 |
| Quarterly profit and loss (₹ crore) | Q2FY25 | Q3FY25 | Q4FY25 | Q1FY26 | Q2FY26 | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|---|---|---|---|---|
| Total income (interest earned + other income) | 34,721 | 36,114 | 37,353 | 38,063 | 38,598 | 39,881 | 36,662 | 39,684 |
| Interest earned | 29,740 | 30,312 | 31,002 | 31,003 | 31,544 | 31,981 | 31,838 | 32,957 |
| Interest expended | 20,425 | 21,163 | 21,560 | 21,994 | 22,403 | 22,729 | 22,030 | 22,742 |
| Net interest income | 9,315 | 9,149 | 9,442 | 9,009 | 9,141 | 9,252 | 9,808 | 10,215 |
| Fee-based income | 2,436 | 2,185 | 2,335 | 2,223 | 2,586 | 2,327 | 2,513 | 2,342 |
| Treasury income | 885.0 | 1,226 | 995.0 | 1,993 | 1,583 | 3,056 | 272.0 | 1,057 |
| Recoveries in written-off accounts | 1,191 | 2,008 | 2,471 | 1,160 | 1,680 | 2,051 | 1,646 | 1,381 |
| Other receipts (PSLC and others) | 469.0 | 383.0 | 550.0 | 1,684 | 1,205 | 466.0 | 393.0 | 1,947 |
| Non-interest (other) income | 4,981 | 5,802 | 6,351 | 7,060 | 7,054 | 7,900 | 4,824 | 6,727 |
| Staff cost | 4,363 | 4,480 | 4,783 | 4,796 | 4,822 | 4,906 | 4,742 | 5,091 |
| Other operating expenses | 2,279 | 2,634 | 2,726 | 2,720 | 2,785 | 3,127 | 3,132 | 3,215 |
| Operating expenses | 6,642 | 7,114 | 7,509 | 7,516 | 7,607 | 8,033 | 7,874 | 8,306 |
| Operating profit (pre-provision) | 7,654 | 7,837 | 8,284 | 8,554 | 8,588 | 9,119 | 6,758 | 8,636 |
| Provisions and contingencies ex tax | 2,251 | 2,399 | 1,830 | 2,352 | 2,354 | 2,414 | 992.0 | 2,080 |
| Profit before tax | 5,403 | 5,438 | 6,454 | 6,202 | 6,234 | 6,705 | 5,766 | 6,556 |
| Income tax | 1,389 | 1,334 | 1,450 | 1,450 | 1,460 | 1,550 | 1,260 | 1,700 |
| Net profit | 4,014 | 4,104 | 5,004 | 4,752 | 4,774 | 5,155 | 4,506 | 4,856 |
| EPS (Rs, not annualised) (₹) | 4.43 | 4.52 | 5.52 | 5.24 | 5.26 | 5.68 | 4.97 | 5.35 |
Standalone, as reported. Lines marked * are the market-data provider's figures; the rest are extracted from the company's filings or derived from them. n.d. not disclosed, n.r. not retrieved, n.a. not applicable.
Metrics dashboard
| Metric | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue growth | 11.4% | 7.7% | |
| Net margin | 11.4% | 12.0% | 12.5% |
| Return on equity | 20.3% | 21.3% | 20.0% |
| EPS, diluted (₹) | 16.05 | 18.77 | 21.15 |
| Book value per share (₹) | 79.19 | 97.28 | 114.0 |
Computed from the statements above:
- Revenue growth: revenue over the previous year's, less one.
- Net margin: net profit to owners / revenue.
- Return on equity: net profit to owners / average equity.
- EPS, diluted (₹): as reported (EPS (Rs)).
- Book value per share (₹): equity / shares outstanding.
Source: the company's filings and disclosures as extracted into Mool's company dossier (version 1, information to 12 Oct 2026); market data at the close of 12 Oct 2026. Every figure is read from the dossier's files or computed from them; the account of the business model is the analyst's, from the dossier's workings.
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What the full research on Canara Bank includes
Every piece of Mool’s research is built the same way: a researched evidence base, analyses that build on each other, a research model and a report with the call. This page shows the first analysis.
The report and Mool’s call
- The 12-month rating and target
- The 3-month view
- Mool's estimates beside the street's
- The claims the view rests on, and what would change it
The analyses, among them
- Business model & financial foundationOn this pageWhat the company does and how it makes money, its structure, five years of financials and the metrics that matter for it.
- Future earnings & financial modelForecasts built from the drivers that move the business, by scenario, beside the street's.
- Fundamental valuation & 12-month thesisWhat the business is worth on several methods, what the market already prices in and the 12-month thesis that follows.
The research model
The model behind the report: the company’s history, the drivers that move it, its forecasts by scenario and the valuation the 12-month target comes from.
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Report history
Reports on Canara Bank
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Prices are the last close on the NSE, 12 Oct 2026. Research from Mool’s report of 12 Oct 2026; page updated 13 Oct 2026.
Mool’s research is written by AI agents and published by Mool Capital Private Limited, a SEBI-registered Research Analyst, registration INH000012449, which is responsible for it. This page shows factual company information and an excerpt of that research; it carries no rating and is not investment advice for any individual. Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Read the disclosures.