Zee Business Managing Editor Anil Singhvi invited Canara Bank Executive Director Debashish Mukherjee on Thursday and sought his views on future course of action planned by the bank and recent quarterly result.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

Talking about December result of Canara Bank, Mukherjee said, "In this quarter, we have achieved the business target of 16 trillion (16 lakh crore) in this quarter. We have also registered a business growth of more than Rs 1,25,000 crore on year-on-year basis in this quarter. We have also seen a growth of around 13.83 per cent in our savings bank, CASA growth has crossed 14% too, besides our operating profit has also seen good growth—46% on YOY basis. We have made a net profit of Rs 696 crore and we have also succeeded in doing away with our good chunk of NPA during Covid 19 pandemic times. Most importantly PCR (Provision converge ratio) has touched 84.89 per cent as against our target of 85 per cent."

Watch detail coverage in the video below. 

We have also thought about plans in case Supreme Court stay judgement is lifted on moratorium and have made separate provisioning for the same, he said. Even without moratorium Gross NPA of 8.95 per cent is possible, said Mukherjee.

See Zee Business Live TV Streaming Below:

Talking about loan growth and its demands, Canara Bank Executive Director said we have analyzed this factor and we are anticipating deposits of around 8 percent in Q4, besides credit growth will be 6 to 8 per cent.

On banking sector expectation and economy push in the Budget 2021, he said banking and economy are intertwined. " I am expecting that the government might focus on infrastructure in this budget and carry forward the good work, it has been doing even during COVID-19 19 situation"