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India
As of 18 Sept 2026, 03:30 pm
On September 16, 2026, Canara Bank conducted bidding for its Basel III compliant Additional Tier 1 bond issuance, raising ₹2,042 crore. The issuance comprised 2,042 unsecured, subordinated, listed, rated, non-convertible, perpetual, fully-paid-up, taxable bonds with a face value of ₹1 crore each. The bank received 111 bids in total, with a coupon rate of 8.10%. The bonds are proposed for listing on the NSE, with the deemed date of allotment and pay-in date set for September 18, 2026.
On September 17, 2026, Fitch Ratings confirmed the credit ratings for Canara Bank's US$3 billion Medium Term Note Programme. The agency assigned a Senior Unsecured Long-Term Rating of 'BBB-' and a Senior Unsecured Long-Term Rating (xgs) of 'BB(xgs)'. Fitch noted that an update to the programme documentation would not result in a withdrawal or downgrade of these ratings.
Recent news highlighted that a fake document, purportedly from the Ministry of Finance, claiming a merger of nine public sector banks was circulating online. The government confirmed this document was not authentic, urging caution. Despite the misinformation, public sector bank stocks, including Canara Bank, reacted positively to the rumors.
The Insurance Regulatory and Development Authority of India (IRDAI) imposed a ₹1 crore penalty on Canara HSBC Life Insurance Company for mis-selling a deferred annuity policy. The policy was sold to an 88-year-old customer who had banked with Canara Bank for 31 years. IRDAI found lapses in the sale and verification process, leading to a refund of ₹4.09 lakh to the customer and the fine against the insurer.
As of September 18, 2026, Canara Bank's stock has shown the following returns: a 7% return over the last year, a -20% year-to-date return, a -4% return over the last month, and a -8% return over the last three months. Since the start of trading, the stock has returned 23%.
As of 18 Sept 2026, 03:30 pm
Recent drawdown or price variability is high enough to warrant closer monitoring.
Primary driver: Price remains materially below a previous peak
Trading volume was unusually high, but the closing price did not show a clear directional move.
This indicates increased participation without a clear directional signal.
The session opened materially above the previous close, indicating a sharp repricing at the open.
The move may reflect new information; subsequent price follow-through is worth monitoring.
Latest complete financial results for Q1 FY2027 and comparative quarterly trends.
| Metric | Q1 FY2026-27(Latest) | Q4 FY2025-26 | Q3 FY2025-26 | Q2 FY2025-26 | Q1 FY2025-26 |
|---|---|---|---|---|---|
| Interest Earned | PEAK₹32,957.16 crore | ₹31,838.54 crore | ₹30,937.71 crore | ₹32,071.97 crore | ₹31,522.98 crore |
| Other Income | ₹6,738.55 crore | ₹4,700.07 crore | ₹2,151.65 crore | PEAK₹9,941.77 crore | ₹9,918.53 crore |
| Interest Expended | PEAK₹22,737.40 crore | ₹22,024.35 crore | ₹22,708.79 crore | ₹22,412.22 crore | ₹21,992.16 crore |
| Employees Cost | PEAK₹5,094.68 crore | ₹4,746.79 crore | ₹4,508.12 crore | ₹5,027.78 crore | ₹4,996.31 crore |
| Other Operating Expenses | ₹3,216.69 crore | ₹3,131.59 crore | -₹2,923.64 crore | PEAK₹5,869.18 crore | ₹5,785.73 crore |
| Operating Profit Before Provision And Contingencies | ₹8,646.94 crore | ₹6,635.88 crore | PEAK₹8,796.09 crore | ₹8,704.56 crore | ₹8,667.31 crore |
Exchange disclosures and regulatory announcements for Canara Bank.
On September 17, 2026, Fitch Ratings confirmed the credit ratings for Canara Bank's US$3 billion Medium Term Note Programme following an update to the programme documentation. The agency assigned a Senior Unsecured Long-Term Rating of 'BBB-' and a Senior Unsecured Long-Term Rating (xgs) of 'BB(xgs)', noting that the programme update would not result in a withdrawal or downgrade. This confirmation specifically addresses the impact of financial statements for the three months ended June 30, 2026, and the fiscal years ended March 31, 2024, 2025, and 2026 on the existing ratings.
On September 17, 2026, Fitch Ratings confirmed the credit ratings for Canara Bank's US$3 billion Medium Term Note Programme following an update to the programme documentation. The agency assigned a Senior Unsecured Long-Term Rating of 'BBB-' and a Senior Unsecured Long-Term Rating (xgs) of 'BB(xgs)', noting that the programme update would not result in a withdrawal or downgrade. This confirmation specifically addresses the impact of financial statements for the three months ended June 30, 2026, and fiscal years ended March 31, 2024 through 2026, while clarifying that the ratings apply to the programme structure rather than specific notes issued under it.
Canara Bank conducted bidding on 16.09.2026 for its Basel III compliant Additional Tier 1 bond issuance on the NSE EBP platform, with an issue size of Rs. 2,042 crore (base Rs. 2,000 crore plus green shoe Rs. 42 crore) comprising 2,042 unsecured, subordinated, listed, rated, non-convertible, perpetual, fully-paid-up, taxable bonds of face value Rs. 1 crore each. The deemed date of allotment and pay-in date is 18.09.2026, with an issuer call option on 18.09.2031 or any anniversary thereafter, a coupon rate of 8.10%, and 111 total bids received. The bonds are proposed to be listed on NSE.
Canara Bank has informed the Exchange regarding update on Issue of Additional Tier I Bonds. |SUBJECT: Updates
Canara Bank paid the annual interest of Rs 159,80,00,000 on its Non-Convertible, Taxable, Perpetual, Subordinated, Fully Paid UP, Unsecured Basel III Compliant Additional Tier I Bond (ISIN INE476A08183) on 15 September 2026, the due date, via RTGS/NEFT/IBA/DD. The interest was credited to bondholders' accounts in time, with the record date of 31 August 2026 and the previous interest payment on 15 September 2025. The issue size is Rs 2000,00,00,000.
On September 15, 2026, Canara Bank paid the annual interest of Rs. 159.80 crore on its Basel III compliant Additional Tier I bonds (ISIN: INE476A08183) with an issue size of Rs. 2,000 crore. The payment was made in full and on time via RTGS/NEFT/IBA/DD to bondholders as per the terms of issue, following a record date of August 31, 2026.
On September 15, 2026, the Reserve Bank of India granted Canara Bank permission to exercise the call option on its Basel III Additional Tier I bonds (ISIN: INE476A08126) with a principal amount of ₹1,500 crore. The bank is currently in the process of executing this redemption in accordance with the bond issuance terms and applicable regulations.
Recent market and company developments associated with Canara Bank.
District Collector C.M. Saikanth Varma said ₹36,400 crore of the total plan had been earmarked for priority sectors and ₹18,615 crore for non-priority sectors.
A fake document claiming a merger of public sector banks, purportedly issued by the Ministry of Finance, has been circulating online. The government confirmed it is not authentic, urging caution in verifying such claims, as PSU bank stocks react positively to the rumors.
Banks in Karnataka will provide a relief package for farmers in 101 drought-hit taluks, ensuring timely financial support and credit.
public sector bank mergers, fake gazette, PIB Fact Check, Finance Ministry India, State Bank of India, Punjab National Bank, Bank of Baroda, social media misinformation, PSU banks
Bank merger, PSBs merger, Public Sector Bank merger, PIB Fact Check fake bank merger
IRDAI has imposed a ₹1 crore penalty on Canara HSBC Life Insurance Company over the sale of a deferred annuity policy to an 88-year-old customer who had been banking with Canara Bank for 31 years. The policy required ₹2 lakh annual premiums for four years and named his 57-year-old daughter as the annuitant. IRDAI found several lapses in the sale and verification process. The insurer refunded ₹4.09 lakh to the customer.
HSBC and ICICI Bank emerged as the biggest lenders under the RBI’s foreign-currency deposit swap programme in GIFT City, disbursing $19.3 billion. The initiative attracted record overseas Indian deposits, boosted banking activity and strengthened GIFT City’s position as an international financial hub. Regulators expect further growth in wealth management services
India Business News: Mumbai: Banks with the largest number of bank accounts will be the biggest gainers as they will receive the lion's share of the fees. While third-part.
Comprehensive Section Breakdown for Canara Bank
Canara Bank’s first quarter of FY2026-27 showed little change in overall profitability compared to the same quarter last year. The balance sheet position shifted, with gross non-performing assets falling to their lowest level in the five-quarter period and the Common Equity Tier 1 ratio rising sharply. Net profit after tax was nearly flat, while earnings per share increased substantially, a movement that is not reconciled by the unchanged equity share capital.
Net interest income, the difference between interest earned and interest expended, increased 7.2% to ₹10,219.76 crore from ₹9,530.82 crore a year earlier. Interest earned grew 4.6% to ₹32,957.16 crore, while interest expended rose 3.4% to ₹22,737.40 crore.
Other income fell 32.1% to ₹6,738.55 crore from ₹9,918.53 crore. This decline was partly offset by a reduction in operating expenses. Employee costs rose 2.0% to ₹5,094.68 crore, but other operating expenses dropped 44.4% to ₹3,216.69 crore. Total operating expenses fell 22.9% to ₹8,311.37 crore.
The combination of higher net interest income, lower other income, and lower operating expenses left operating profit before provisions nearly unchanged at ₹8,646.94 crore, a marginal decline of 0.2% from ₹8,667.31 crore.
Net profit after tax edged up 0.6% to ₹4,864.08 crore from ₹4,836.21 crore. Provisions other than tax declined 11.8% to ₹2,080.05 crore, while tax expense increased 15.7% to ₹1,702.81 crore, largely offsetting each other. On a sequential basis, net profit rose 11.0% from ₹4,380.78 crore in the previous quarter.
Gross non-performing assets fell to ₹20,363.77 crore, down 31.1% from ₹29,535.08 crore a year ago and 10.5% lower than ₹22,749.44 crore in the preceding quarter. The gross non-performing asset ratio declined to 1.57% from 2.69% a year earlier and 1.84% in the previous quarter. This continues a steady decline in both the absolute level and the ratio over the past five quarters.
The Common Equity Tier 1 ratio rose to 17.18% from 12.47% in the prior quarter, an increase of 4.7 percentage points. This is a significant one-quarter move, as the ratio had been stable between 12.3% and 12.5% over the previous four quarters. Equity share capital remained unchanged at ₹1,814.13 crore, so the increase reflects a change in either the Common Equity Tier 1 capital numerator, the risk-weighted assets denominator, or both.
Basic earnings per share rose 62.2% to ₹5.71 from ₹3.52 a year earlier. Over the same period, net profit after tax increased only 0.6%, and paid-up equity share capital was unchanged at ₹1,814.13 crore. The sharp rise in earnings per share, far outpacing net profit growth, indicates that the profit measure or number of shares used in the earnings per share calculation differed from the reported net profit and equity capital.
Canara Bank’s first quarter was marked by a shift in balance sheet metrics, with gross non-performing assets falling and the capital adequacy ratio rising sharply. Core net interest income grew, but a significant decline in other income, partly offset by lower operating expenses, kept operating profit and net profit nearly flat compared to the same quarter last year. Earnings per share rose sharply, a divergence from the nearly flat net profit that is not reconciled by the unchanged equity capital.
Strategic Vision: Public sector bank offering diverse financial services across India.
Category: Financial Services
Offers banking services tailored for individual customers.
Category: Financial Services
Provides banking solutions and services for business clients.
Category: Financial Services
Manages mutual funds through its subsidiary, Canara Robeco Asset Management Company Ltd.
Key Products & Services: Canara Robeco Asset Management Company Ltd
Category: Financial Services
Offers life insurance products through its joint venture, Canara HSBC Life Insurance Company Ltd.
Key Products & Services: Canara HSBC Life Insurance Company Ltd
Core Thesis: Leveraging an extensive network and diversified offerings to serve a broad customer base across various segments.
• Diversified Offerings: The bank has diversified its business through several subsidiaries and joint ventures to cater to different financial needs. • Extensive Network: The bank serves its customers through a network of branches and ATMs spread across all Indian states and Union Territories. • Customer Reach: The bank serves a diverse clientele, reaching over 11.76 crore customers.
• Pioneering innovations in the Indian banking sector.
• Extensive geographical reach across India.
• Established network of branches and ATMs.