Latest news with #CanaraHSBCLifeInsuranceCompany
Mint
4 days ago
- Business
- Mint
Canara Bank may sell its excess priority sector loans in Q2: MD Raju
New Delhi, Jul 27 (PTI) State-owned Canara Bank plans to sell its excess priority sector loans in the ongoing quarter to compensate for the stress on margins due to moderation in interest rates. During the quarter ended June 2025, the bank earned ₹ 1,248 crore as commission by selling priority sector loans. Despite sale in the first quarter, the total priority debt stands at 45.63 per cent as against regulatory requirement of 40 per cent of the total loan, Canara Bank MD and CEO K Satyanarayana Raju told PTI. "We have a cushion under priority sector space. There is demand in the market and we may take advantage of the Priority Sector Lending Certificate (PSLC) sale during the current quarter itself," he said. Asked about impact of moderation in interest rates, Raju said, main concern for the ongoing financial year would be Net Interest Margin (NIM) and the guidance of 2.75 per cent seems difficult at the current juncture due to 100 basis point rate cut by the RBI so far this year and expectation of another one as inflation has come down below 3 per cent. Whether the rate cut happens in August or October policy, one has to wait and watch, he said, adding, therefore pressure would be there in the current quarter as well and slight improvement can be witnessed in the third and fourth quarters. Besides, he said, stake sale in two subsidiaries would provide some comfort during the year. The bank is aiming for listing of one of its subsidiaries in the current quarter and another in the next quarter, depending on the regulatory approval, he said. Canara Bank has already initiated the process for listing of asset management joint venture Canara Robeco AMC. The bank is planning to sell its 13 per cent stake in the mutual fund arm through initial public offering (IPO). Besides, it is also planning a listing of its life insurance joint venture, Canara HSBC Life Insurance Company. Canara Bank has already approved the process of diluting a 14.5 per cent stake in its life insurance venture Canara HSBC Life Insurance Company. Despite stake dilution, Raju said, the bank would continue to be the majority owner in the both entities and continue to earn substantial fee income by selling their products. For the first quarter ended June 2025, Canara Bank reported a 22 per cent growth in standalone net profit to ₹ 4,752 crore as against ₹ 3,905 crore in the same quarter of the previous fiscal year. The total income rose to ₹ 38,063 crore during the latest June quarter from ₹ 34,020 crore in the same quarter of FY25.
News18
5 days ago
- Business
- News18
Canara Bank may sell its excess priority sector loans in Q2: MD Raju
Agency: PTI New Delhi, Jul 27 (PTI) State-owned Canara Bank plans to sell its excess priority sector loans in the ongoing quarter to compensate for the stress on margins due to moderation in interest rates. During the quarter ended June 2025, the bank earned Rs 1,248 crore as commission by selling priority sector loans. Despite sale in the first quarter, the total priority debt stands at 45.63 per cent as against regulatory requirement of 40 per cent of the total loan, Canara Bank MD and CEO K Satyanarayana Raju told PTI. 'We have a cushion under priority sector space. There is demand in the market and we may take advantage of the Priority Sector Lending Certificate (PSLC) sale during the current quarter itself," he said. Asked about impact of moderation in interest rates, Raju said, main concern for the ongoing financial year would be Net Interest Margin (NIM) and the guidance of 2.75 per cent seems difficult at the current juncture due to 100 basis point rate cut by the RBI so far this year and expectation of another one as inflation has come down below 3 per cent. Whether the rate cut happens in August or October policy, one has to wait and watch, he said, adding, therefore pressure would be there in the current quarter as well and slight improvement can be witnessed in the third and fourth quarters. Besides, he said, stake sale in two subsidiaries would provide some comfort during the year. The bank is aiming for listing of one of its subsidiaries in the current quarter and another in the next quarter, depending on the regulatory approval, he said. Canara Bank has already initiated the process for listing of asset management joint venture Canara Robeco AMC. The bank is planning to sell its 13 per cent stake in the mutual fund arm through initial public offering (IPO). Besides, it is also planning a listing of its life insurance joint venture, Canara HSBC Life Insurance Company. Canara Bank has already approved the process of diluting a 14.5 per cent stake in its life insurance venture Canara HSBC Life Insurance Company. Despite stake dilution, Raju said, the bank would continue to be the majority owner in the both entities and continue to earn substantial fee income by selling their products. For the first quarter ended June 2025, Canara Bank reported a 22 per cent growth in standalone net profit to Rs 4,752 crore as against Rs 3,905 crore in the same quarter of the previous fiscal year. The total income rose to Rs 38,063 crore during the latest June quarter from Rs 34,020 crore in the same quarter of FY25. Interest earned by the bank increased to Rs 31,003 crore compared to Rs 28,701 crore in the June quarter of the previous financial year. PTI DP HVA view comments First Published: July 27, 2025, 17:00 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
News18
24-07-2025
- Business
- News18
Canara Bank Q1 net profit rises 22 pc to Rs 4,752 cr on decline in bad loans
New Delhi, Jul 24 (PTI) State-owned Canara Bank on Thursday posted a 22 per cent growth in standalone net profit to Rs 4,752 crore during the first quarter of the current financial year, supported by a decline in bad loans. The Bengaluru-based bank had earned a net profit of Rs 3,905 crore in the same quarter of the previous fiscal year. The total income rose to Rs 38,063 crore during the June quarter from Rs 34,020 crore in the same quarter of FY25, Canara Bank said in a regulatory filing. Interest earned by the bank increased to Rs 31,003 crore compared to Rs 28,701 crore in the June quarter FY25. However, its net interest income declined by 2 per cent to Rs 9,009 crore against Rs 9,166 crore in the same quarter a year ago. The net interest margin (NIM) of the bank rose to 2.9 per cent from 2.55 per cent in the year-ago period, Canara Bank MD and CEO K Satyanarayana Raju said. He also said the bank is aiming for listing of one of its subsidiaries in the current quarter and another in the next quarter, depending on the regulatory approval. Canara Bank has already initiated the process for listing of asset management joint venture Canara Robeco AMC. Besides, it is also planning a listing of its life insurance joint venture, Canara HSBC Life Insurance Company. Canara Bank has already approved the process of diluting a 14.5 per cent stake in its life insurance venture, Canara HSBC Life Insurance Company. During the period under review, the operating profit of the bank increased to Rs 8,554 crore compared to Rs 7,616 crore in the same quarter a year ago. The bank's asset quality showed improvement as gross non-performing assets (NPAs) declined to 2.69 per cent of gross advances at the end of the June quarter from 4.14 per cent a year ago. Gross advances of the bank rose 12 per cent to Rs 10,96,329 crore during the first quarter of the current financial year. Similarly, net NPAs, or bad loans, declined to 0.63 per cent against 1.24 per cent in the year-ago period. As a result, provisions for bad loans declined to Rs 1,845 crore during the first quarter compared to Rs 2,171 crore in the year-ago period. Its provision coverage ratio (PCR) improved to 93.17 per cent from 89.22 per cent. At the same time, Return on Assets (ROA) improved to 1.14 per cent for June 2025 from 1.05 per cent in June 2024. Capital adequacy ratio of the bank rose to 16.52 per cent from 16.38 per cent in the same quarter of FY25. Global Business increased by 10.98 per cent to Rs 25,63,984 crore as af June 2025, while global deposits rose by 9.92 per cent to Rs 14,67,655 crore. PTI DP DP BAL BAL view comments First Published: July 24, 2025, 18:30 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Time of India
21-07-2025
- Entertainment
- Time of India
Promises take center stage in Canara HSBC Life Insurance's new campaign
Canara HSBC Life Insurance Company ('Canara HSBC Life Insurance') has announced the launch of its new brand campaign featuring the real-life couple, cricketer Jasprit Bumrah and media personality Sanjana Ganesan . The campaign reinforces the company's aim to feature as a trusted partner in fulfilling life's long-term promises and marks the next chapter in this partnership through a high-impact 360° marketing rollout . Rooted in the brand's philosophy of being a 'Promises ka Partner,' the campaign features two engaging films that highlight deeply personal reflections between Bumrah and Ganesan. The campaign films portray promises not just as words, but as enduring commitments that shape families, futures and legacies. In the TVC, Bumrah contemplates the fleeting nature of fame and how the value of personal commitments, particularly those made to a life partner, stay strong. Ganesan's presence in the narrative offers emotional balance and connection, underscoring the power of mutual support in long-term planning. Both narratives are anchored in authenticity, trust and emotional foresight- values that align closely with Canara HSBC Life Insurance's aim in helping individuals plan and protect their futures. Rishi Mathur, chief marketing officer and chief distribution officer- alternate channels, Canara HSBC Life Insurance said, 'Through this campaign, we continue to strengthen our commitment to being a dependable partner in those promises.' Bumrah, while commenting on the campaign launch said, 'The films reflect this idea, showing how promises made to loved ones are not just emotional in nature, but foundational to a future that is secure. It's a message I believe in deeply.' Shoojit Sircar, director of the brand films said, 'It was really great to work with Jasprit and Sanjana, it was lovely to bring out a side of their relationship, their partnership which hasn't been seen before. I think with these films we were able to showcase the brand promise in a very simple and charming way. What made this possible was the brand's clarity and their trust in the process. Working with Canara HSBC Life Insurance & Pravis felt less like a usual campaign and more like a lovely partnership.' Targeted at young couples, modern families , and financially aware individuals, the campaign is built around insurance as a tool for empowerment rather than fear. It will be rolled out across TV, digital, social media and other platforms as part of a multi-touchpoint strategy. The creative team behind the campaign is Gurgaon based, PRAVIS consulting. Watch the video here:
Time of India
16-06-2025
- Business
- Time of India
Canara HSBC Life Insurance signs Jasprit Bumrah and Sanjana Ganesan as brand ambassadors
Canara HSBC Life Insurance Company ('Canara HSBC Life Insurance'), has announced the onboarding of India's fast-bowling spearhead Jasprit Bumrah and his partner and sports presenter , Sanjana Ganesan as brand ambassadors. This partnership brings to life the brand's core philosophy of being a ' Promises Ka Partner ' — a dependable ally who stands by customers as they plan, protect, and pursue their life goals . In Bumrah and Ganesan, Canara HSBC Life Insurance sees a shared journey built on trust, responsibility and commitment — values that lie at the heart of excellence in their on-field achievements as well as life insurance as a domain. The real-life couple who embodies the very spirit of being there when it matters, just like a true 'Promises Ka Partner,' the company stated in a press release. Rishi Mathur, chief distribution officer- alternate channels and chief marketing officer, Canara HSBC Life Insurance, while commenting on the announcement said, 'Our philosophy of being a 'Promises Ka Partner' reflects this commitment in how we engage with all our customers. Bumrah and Ganesan embody this ethos in a way that feels both natural and inspiring. His consistency and quiet resilience mirror the trust our customers place in us. Ganesan brings with her a voice of credibility, and connection — traits that are foundational to how we communicate as a brand. Together, they help bring our brand to life in a way that's authentic, relevant, and deeply aligned with the people we aim to serve.' Bumrah, while commenting on the partnership, said, 'Partnering with Canara HSBC Life Insurance feels like a natural fit. They understand the value of showing up for people, consistently — just like a true partner should.' Ganesan added, 'To me, being a partner means being dependable — not just when it's convenient, but when it truly counts. That's what drew me to Canara HSBC Life Insurance and their 'Promises Ka Partner' philosophy.' Together, Bumrah and Ganesan reflect the aspirations of today's modern Indian couple — planning jointly, sharing responsibilities, and building a secure future together. Their story reflects the essence of the Canara HSBC Life Insurance brand: to be present through life's milestones, enable long-term confidence, and turn aspirations into enduring achievements. The brand will soon launch a series of integrated campaigns and storytelling-led initiatives anchored in this partnership, aimed at deepening engagement across key customer segments — from digitally native millennials to families and emerging affluent audiences.
