Canara Bank: Financial History, Products, and Investment Potential

Canara Bank IPO Details

Canara Bank, one of India’s leading public sector banks, launched its Initial Public Offering (IPO) on February 25, 2002. The IPO was priced at ₹20 per share. Since then, Canara Bank has shown a significant presence in the banking sector with a substantial number of branches and ATMs across India.

Current Share Price

As of today, October 2023, the current share price of Canara Bank stands at ₹255. The fluctuations in the share price over the years have been influenced by the bank’s financial performance as well as broader market conditions.

Products and Services Offered by Canara Bank

Canara Bank offers a wide range of products and services catering to the diverse needs of its customers. These include:

• Savings and Current Accounts: Various types of savings and current accounts suited for individuals, businesses, and institutions.
• Loans and Advances: Home loans, personal loans, car loans, education loans, and business loans.
• Credit and Debit Cards: Various credit and debit card options with different features and benefits.
• Investment Services: Fixed deposits, recurring deposits, mutual funds, and demat services.
• Insurance: Life insurance, health insurance, and general insurance products.
• Online Banking: Internet banking, mobile banking, and UPI services.

Company Financial Details

Canara Bank’s financial performance over the years has portrayed a robust growth trajectory. As of the financial year 2022-2023, the bank reported:

• Total income: ₹80,229 crore
• Net profit: ₹6,045 crore
• Net NPA: 2.67%
• Total Assets: ₹10,06,852 crore

The bank’s consistent performance demonstrates its ability to navigate through various market challenges and maintain profitability.

Investment Potential: What Could Be the Value of Rs 10,000 Invested 5 Years Ago?

If an investor had invested ₹10,000 in Canara Bank shares 5 years ago, let’s calculate its potential value today. The share price of Canara Bank around October 2018 was approximately ₹270. Thus, ₹10,000 would have bought approximately 37 shares.

At the current market price of ₹255 per share, the value of these 37 shares would be:

37 shares x ₹255 = ₹9,435

While the stock price has seen some decline, it’s essential to consider the overall market conditions and the bank’s long-term growth potential. Investors should ideally look at comprehensive financial data and market trends before making investment decisions.