Canara Bank building With an aim to enhance customer experience, Canara Bank has hired global IT infrastructure provider Kyndryl to upgrade and manage IT operations.As part of a 7-year contract, Kyndryl will augment the bank’s end-to-end IT operations and streamline services delivery across core banking, IT infrastructure, applications, and network operations.Kyndryl’s solution will provide Canara Bank with an end-to-end view of its business services, risk mitigation using advanced capabilities and tools, and focus on services availability while enhancing observability and reliability, a joint statement said.This will help Canara Bank enhance its customer service experiences, it…
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Category: Canara Bank
Canara Bank Outlook for the Week (April 29, 2024 – May 03, 2024)
Canara Bank Q3 profit rises, provisioning falls
SummaryThe robust growth in the profit was driven by a drop in provisioning for bad loans.Canara Bank reported a 27% year-on-year rise in its net profit to ₹3,656 crore in the December quarter. The robust growth in the profit was driven by a drop in provisioning for bad loans. The provisioning for bad loans declined by 22.6% to ₹1,350 crore.
The net interest income – the difference between interest earned and paid – increased 9% to ₹9,417 crore. The net interest margin also improved by 9 basis points to 3.02%. The loan book also expanded around 12% to ₹9 lakh crore.
The asset quality also improved in the December quarter. The gross non-performing assets (NPA) or bad loans…
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SINE, IIT Bombay Collaborates with Canara Bank for Financing of Startups
New Delhi : A Memorandum of Understanding (MoU) was signed between Canara Bank and Society for Innovation & Entrepreneurship, (SINE), IIT Bombay on April 3 for extending financial assistance to Start-ups.
Canara Bank is extending financial assistance for the establishment, promotion, diversification, and modernization etc. of industrial units all over India under its Canara Start-Up Scheme. SINE is a technology business incubator that provides start to end incubation and acceleration support for technology startups. SINE also actively collaborates with industry/ corporates for its various programs, like idea to prototype, entrepreneur fellowship program, cross border…
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Canara Bank’s Canara Robeco IPO Approval Boosts Shares; Aims to Become Fifth Listed AMC in India
Canara Bank’s shares surged up to 3% to Rs 446.65 following the announcement of in-principle approval for the IPO listing of its mutual fund subsidiary, Canara Robeco Asset Management Company.
At the time of writing Canara Bank’s shares were trading at Rs 442.20 which is a 2.24% increase than the previous close.
The PSU lender revealed its intention to list Canara Robeco AMC on stock exchanges via an IPO, subject to due diligence, regulatory approvals, and other procedures.
The specific details and modalities for the IPO listing will be determined in due course.
Established in 1993, Canara Robeco MF, formerly Canbank Mutual Fund, became Canara Robeco Mutual Fund in 2007 through a joint…
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Stock in focus: Rajesh Palviya of Axis Securities recommends Firstsource Solutions, Canara Bank, and JSW Steel today
Stock Market News: Domestic equity benchmark indices, the Sensex and the Nifty 50, began the first day of the May series with modest gains amid positive global cues and led by gains in information technology (IT), media, and metal stocks.
The Nifty 50 was up by 50.10 points, begin trading at 22,620.40, while the Sensex rose by 169.87 points, kicking off at 74,509.31.
Chief Investment Strategist at Geojit Financial…
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CANARA BANK LATEST VALUATION FEE SCHEDULE – COUNCIL OF ENGINEERS AND VALUERS
CANARA BANK LATEST VALUATION FEE SCHEDULE COUNCIL OF ENGINEERS AND VALUERS
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Source: https://cevnews.in/2023/07/canara-bank-latest-valuation-fee-schedule/
1:5 Split Soon: Multibagger PSU Bank To Consider Dividend Too, Buy For TP Rs 650: Motilal Oswal – Goodreturns
1:5 Split Soon: Multibagger PSU Bank To Consider Dividend Too, Buy For TP Rs 650: Motilal Oswal Goodreturns
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RBI imposes nearly Rs 3 cr fine on SBI, Canara Bank, and City Union Bank
MUMBAI, Feb 26 : The Reserve Bank of India (RBI) on Monday said it has imposed penalties amounting to almost Rs 3 crore on State Bank of India, Canara Bank, and City Union Bank for violation of regulatory norms.
In a statement, the RBI said a penalty of Rs 2 crore has been imposed on the State Bank of India (SBI) for contravention of certain norms related to the Depositor Education Awareness Fund Scheme, 2014.
A penalty of Rs 66 lakh has been imposed on City Union Bank Limited for non-compliance with certain directions issued by the RBI on ‘Prudential Norms on Income Recognition, Asset Classification and Provisioning Pertaining to Advances —…
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Kishore Biyani pays off creditors led by Canara Bank by selling SOBO mall to K Raheja Corp: Report – MSN
Kishore Biyani pays off creditors led by Canara Bank by selling SOBO mall to K Raheja Corp: Report MSN
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