iStock has buy call on Canara Bank with a target price of Rs 355. The current market price of is Rs 305.6. Time period given by analyst is 12 months when Canara Bank price can reach defined target.
Canara Bank, incorporated in the year 1906, is a banking company (having a market cap of Rs 55993.13 Crore).
Canara Bank key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest On Balances with RBI and Other Inter-Bank Funds and Interest for the year ending 31-Mar-2022.
Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 28338.08 Crore, up 3.58 % from last quarter Total Income of Rs 27358.37 Crore and up 24.05 % from last year same quarter Total Income of Rs 22843.51 Crore. The bank has reported net profit after tax of Rs 3032.92 Crore in latest quarter.
Investment Rationale
For the PSB, the brokerage builds credit costs of 119 bps over FY24-25E) leading to improvement of RoA to 0.9% by FY24E/FY25E.
Canara Bank, incorporated in the year 1906, is a banking company (having a market cap of Rs 55993.13 Crore).
Canara Bank key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest On Balances with RBI and Other Inter-Bank Funds and Interest for the year ending 31-Mar-2022.
Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 28338.08 Crore, up 3.58 % from last quarter Total Income of Rs 27358.37 Crore and up 24.05 % from last year same quarter Total Income of Rs 22843.51 Crore. The bank has reported net profit after tax of Rs 3032.92 Crore in latest quarter.
Investment Rationale
For the PSB, the brokerage builds credit costs of 119 bps over FY24-25E) leading to improvement of RoA to 0.9% by FY24E/FY25E.
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