Thank you. Thank you there.

I just welcome all our esteemed analysts to this analyst meet after having published our September quarterly results, and I'm very happy to inform some of the salient features, though we have already provided the full balance sheet and profit and loss statement posted. We have this quarter crossed a very important milestone of ₹30 lakh crores of business, and our total global business stands at ₹30,72,000 crores at 15.88% YoY growth.

Then global deposit also grew by 13.13% YoY, and is as of now at 16.97,000 crores, ₹16,97,000 crores. Global advances grew very robustly at 19.46% YoY, ₹13.7 lakh, ₹75 lakh crores.

The most heartening to note is our core business, the income from core business, that is net interest income, grew by 20.39%, and it is at ever-highest YoY also and ever-highest outstanding gross amount at ₹11,000-plus crores. Net profit also grew very handsomely, and it is also ever-highest profit of any quarter at ₹5.175 crore, and YoY is 8.40%.

CRAR is very well placed at 17.19% due to plowback also, and at the same time, our density of our risk-weighted asset has also improved like anything. We have increased it by 175 basis points YoY basis, and now it stands very robustly at 95.34%.

Gross NPA, our total asset quality has improved like anything. Our guidance for the full year at March, 31st March, '27 was for gross NPA 1.50.

Now, we have already improved it at 1.33%. Net NPA also, we said that it will be around 0.40%.

It has further improved, and it is as of now only at 0.30%. If we go granularly in the advances side, the advances growth was broad-based.

Every RAM and large corporate everybody has equally contributed to this cost. RAM grew by 21.303%.

Within RAM, retail credit at 31.61%. Even we in retail, we talk about housing loan, it has also grown 17.35%.

All these numbers are YoY. Vehicle loan grew by 25.50%.

If we talk about MSME also, there is a very good growth at 15.49%. In earning per share also 5% is the growth is 5.5%, and we are at ₹22.06.

There is a growth of 21 There is improvement of 21 basis points on YoY basis in credit cost, and it is very handsomely placed at 0.47%. Then slippage ratio has been contained like anything, and annualized slippage ratio is only 0.58%, and there is a improvement of 18 basis points.

Let me just conclude by just giving you how we have fared against our guidances, which we gave in the start of the year. We said we'll grow total business by left 10% to 11%.

Against that, we have grown 15.88%. Advances, we said 11% to 12%.

We have grown 19.46%. Deposit growth, we said 9% to 10%.

Now, we have grown at 13.13%. CASA, we have said that it will be between the range of 30 to 2 30% to 32%, which is as of now at 29% that we have protected at 29% in spite of the fact that we could garner $5.8 billion of FCNR(B) deposit, which in rupee terms is close to ₹55,000 crores, which is all on the term deposit.

Had it not been there, we would have been also achieved or surpassed this guidance also. In spite of so much term deposit, that too in a very short span of time, we are still maintaining 29%.

NIM, we said it will be range between 2.5% to 2.60%. We are at 2.53% on annual basis, and on quarterly, it is 2.55%, even better.

Gross NPA, like I already discussed. Net NPA also I discussed.

PCR also discussed. Slippage ratio guidance was 0.80%.

Now, it is only at 0.58%. Credit costs also, I've said that we have improved, and against the guidance of 0.75%, it is only 0.47%.

Return on equity, we said 16.5%. It is 2% more, around 18.49% to be precise.

Earning per share also, we said 20, and it is at 22.06%. Return on average, we said between 1.01 to 1.05.

We are at 1.04%. You see barring one CASA, that too, I have explained why.

We have surpassed by good margins on all the this thing, and then all the guidances. Now, I shall be open to your analysis, your questions, your any further clarification from our side, and any guidance from your side, please.

Yeah. Hello, sir.

Good evening. Congratulations.

Good evening, Mahrukh. Yeah.

Yeah. Congratulations, sir.

Sir,

I just had a couple of questions. What would be your incremental yield on corporate loans currently, and what would it be last quarter?

As in what was the incremental yield on corporate loans in the second quarter and what was it in the first quarter? Likewise on gold loans, your yields?

Okay. That I will provide you.

Or yeah, we have got. Yes, let me sit here.

The corporate, the yield is 7.72%, and on gold, it is increased to 9.10%. It has improved from 8.96 to 9.10.

Okay.

Corporate has improved?

From 7.68, it has improved to 7.72.

Sir. Got it.

Got it. Sir, what is your take on margins from here on?

Do you see margins improve from here on too?

I guess we will be able to sustain this NIM at 2.55% considering, there is a rate hike also 0.25% basis point 25 basis points, and our repo-rate-linked book is 53%. Again, MCLR will be also repriced, but at the same time It will further depend upon how deposits and advances are getting repriced.

As of now, we speak 53% of book is already repriced. Then there is a festive this season, there will be a lot of festivity also.

There will be a lot of underwriting under retail lending and growth propelled through widespread consumption. We see that is good margin also.

In detail, our margin is 8.65% our earning. That way it will improve.

50% are already repriced. Yeah.

Got it, sir. Again, on gold loans, competition keeps increasing.

I know Canara Bank has done well. It's one of the leaders there.

Competition keeps increasing. Do you see pressure on yields going ahead?

Your yield has actually improved QoQ, but do you see pressure on yield going ahead, given that competition keeps rising, even large NBFCs are now getting into it in a big way?

We work under a very competitive environment. That we are used to taking on competitions.

Yes. One thing I would like to say, gold loan, we are doing for years altogether, and we are very very I think very very much skilled in doing gold loans.

All our people are very smart. We have got a very good setup of appraisers, gold safes, and all.

The whole ecosystem, we have got very well placed. We are market leaders also.

As of now, also we are not pricing very aggressively like this NBFC and all. We are always below NBFC, and they can't be below us, considering they borrow from us only, and then they further go and lending.

They're not a deposit taking NBFCs. Yes, competition is there, but We know this business, how to do this business.

We'll be further bettering. It will be not dipping, I guess.

Sir. Perfect.

Thank you so much.

Yeah. Thank you, Mahrukh.

Sir, good evening, and congratulations on [audio

gap]

steady quarter. Good evening, sir.

Thank you.

Sir, a few questions. Sir, first is the bulk deposit, while we have raised huge FCNR(B), but it looks like that the bulk deposit has not moved either ways.

I was under the impression that the bank may be tempted to reduce bulk deposit and or may replace bulk by FCNR. What is your thought process?

Can bulk deposit be decreased? Is there any The entire FCNR will be retail TD only, right?

Is that understanding correct?

Yeah. Let me request Ahluwalia to answer, please.

See, sir, last quarter, we have increased the bulk and CD by ₹12,000 crores. From ₹4,25,000, the bulk has gone to 4.37 lakh.

Now, this quarter, we have consciously not taken and maintained at the June level, from 4.37 to 4.38. During this process, we have decreased the cost of deposit by 1% because the FCNR deposits were at 1% less than the bulk prevailing market price.

Right.

It is a cause. We have grown by 19% in advances also.

We have grown 13% in deposit. There is a gap also.

It was funded there also, nah? Part of it was utilized there.

It was credit growth.

Fully.

With robust credit growth, it was utilized.

No, it has replaced. What you understood was correct.

It replaced bulk deposit.

Yes. Yes.

It fully replaced the bulk deposit. Otherwise, had FCNR(B) not been there, bulk deposit would have been more by ₹30,000, ₹35,000 crores.

Bulk CD put together.

Yes. Right,

right. Okay.

In the process, you have saved 100 basis point cost on bulk, right?

Yes, yes. Wherever we have replaced it, haven't we?

We have saved 100%. Considering it was at 6.5%, and that was at 7.5%.

Further, we have saved on cost of CRR and SLR also, which is also 22, 23 points. Considering this were not supposed to be charged CRR, SLR also.

Again, there is that earning also. Yeah.

Right. Sir, I am not able to understand your NIM trajectory because 50% of the book will move up by 25 basis point immediately, or it has already moved.

Bulk deposit even if the rates seem still softer or stable types, right? Mathematically, the NIM should go up only.

What is the offset there?

See, okay. I'll answer.

This quarter, that effect of that FCNR(B) leverage will also come, wherein we do not have a spread of 2.55%. It is that spread in say $3.2 billion in leverages is only ₹0.40, ₹0.50 price per point points.

That will be compensated with this little more it will be compensated more. That impact will also come this from this quarter,

now? Sure.

Sir, in interest income, interest income on advances, was there any one-off? The calculated yield and even the reported yields are up by, four 3, 4 basis point on the yield loan yield.

Is there any anything which helped us in improving the loan yields? No, no,

no. It is only since our average advances has continuously increased, and it never dipped, you see.

Due to average advances on the increasing side, and very calibrated underwriting also, we have done. We have not done any sub-7 loans.

Rather we have shedded some of the sub-7 loans, and at the same time, we have shedded some of the high cost deposit like Mr. Ahluwalia told.

That's why this increased earning is there. It is merely on the count of average outstanding advances going one-sided northward only.

Right, understood. Sir, your gold loan, total gold loan in rupees crore and how much of that is agri gold and retail gold, sir, if you have that number?

Okay. So ₹2,82,000, ₹2,82,000 crore is the total gold loan, out of which agriculture is ₹1,74,000, and other 1 108 is the other, non-agriculture

gold. ₹1,08,000.

All together ₹2,82,000 crore.

Right. Last question, sir, from my side is, sir, AFS reserves, if you can quantify what was the AFS reserve at the end of Q1, and at the end of Q2?

Yeah.

Number I will also give, but in percentage terms, I would like to say, 80% of our investment book is HTM. 20% is other than HTM, AFS and FVTPL.

Out of that also, 15% book is 15 point-some odd percentage is AFS reserve. AFS.

Even if HTM is not supposed to be, if you are asking about that dent of mark-to-market. HTM is not supposed to be hit by MTM.

AFS is also not is hitting our profit and loss. That will directly go to AFS reserve.

Only FVTPL, which is less than 4%, around 4%, there impact of mark-to-market is coming. That also I can quantify.

Last

Jai, you wanted to know that what is the increased loss? See, AFS, the loss for the quarter is around ₹1,300 crores for the quarter in AFS.

Okay. That is adjusted in AFS reserve, right?

Nothing to do with P&L?

Exactly. It is adjusted in AFS reserve.

Yes.

Right. Sorry, sir, you were mentioning about the sensitivity of FVTPL.

FVTPL, last quarter, our earning was from ₹55 crore.

This No, loss

This year loss 55. This year loss were ₹55 crore.

Last quarter earning was around ₹500 crore,

555. All

together loss is say ₹600 crore.

Right.

That is that. Sure, sir.

I'm

sorry, sir. Lastly, sir, if you can I think I heard you on TV saying about this drought situation is not very problematic as of now.

Are you seeing anything that, that can reduce your recovery efforts, even for the in those affected districts? How can that pan out, if you can

Not much. Three states have been declared drought-affected.

Part of Karnataka, then Maharashtra. These two states are only affected, that too part.

There will not be much effect on the recovery because restructuring is happening through SLBC. Total exposure to drought-prone area is not less than around 10 to ₹13,000 crores.

₹13,900.

That will not affect much, you see. ₹13,009 some odd amount.

Again, some dispensation also will come from SLBC side, so That has already come. We'll sail through that, I guess.

Right. Sir, this amount, let's say, ₹13,000, ₹14,000 crores, that will be restructured, right?

Or can be restructured?

Absolutely.

Yes. Yes.

Yes, yeah.

Restructured somewhere have

any

moratorium deferment is there, moratorium is there, some restructuring, some additional support also, it comes. It is as decided by state level bankers committee.

Like last to last quarter, emergency line of credit was there. That helped.

Some kind of dispensation every time comes. This one will be also not an exception, you see.

Right,

right. No, sir, my worry is by the time dispensation come, can these account become NPA?

Or they will be straightaway restructured?

No, no. Like I've said, haven't we There is no stress in my book going further also.

Even if you take SMA-0 into consideration, total stress is only 2.42%. Slippages also, last quarter were only 0.15%.

In that way, we do not see or perceive any stress in our book.

Right. This 2.4% is all ticket size, right?

Including below ₹5 crores?

Every ticket. Yes, yes.

If you talk about more than ₹5 crore, then it is less than 1%, 0.30% only.

Right. Right.

Right.

Yeah.

Sir. Great, and

thank you,

and all the very best, sir.

Thank you, Jai.

Sir, congratulations to team Canara on excellent performance.

Thank you, Choksey sahab.

First question to you, sir, your key ratio table, page number I've heard whatever you've replied to Mahrukh and Jai Mundra.

Now,

I have a specific question. As you are saying, there is no stress, margins have bottomed out, your efforts on saving, CASA is looking good irrespective of FCNR deposit taking up [audio gap] would you like to revise your guideline guidance for the year on any parameters, starting from RoA, RoE, cost to income, CD, or any of the Choksey bhai,

like I said, sir, haven't we Yeah, these were all decided before my joining the bank, and we are just respecting that. I said if I'll work hard, team will work hard, will better it.

You have seen everywhere we have already bettered it, and we'll keep on we'll sustain it. Instead of I said instead of going revising, my own guidances, let me better it.

We are bettering it only. We're not restricting ourselves anywhere, haven't we?

We're not sticking to guidances. You see against advances growth 11%, 12%, we are booking 19%.

We are just concentrating ourselves to let this growth story be a very sustainable one. We have no plan to revise it, sir.

Yeah.

Sir, as of October 14th, what is the visibility on RAM business being festive quarter and Karnataka has a big festive activities specifically around Dussehra? Second thing, how is your gold loan business looking?

How is your corporate pipeline looking, and overall business mix? How do you see visibility for Canara for the quarter and for the year?

Specifically looking at the businesses which are emerging in state of Karnataka and Tamil Nadu, where we have a good concentrate, manufacturing businesses are expanding, be it auto, be it defense, many other such businesses are emerging out of these two states. How is the new business segment emerging for you, where the credit is likely to grow well?

First question, sir, we are seeing very robust demand for retail lending products, you see. Like, our housing loan in excess of 17%, 18% is growing.

Total retail 21%, vehicle loan 25%. It's a very good demand also.

That too without this festive season. We've also today started getting those numbers.

We are already in the festive mode. Then yes, our presence is very good in the state of Karnataka and Tamil Nadu, Kerala, and Andhra Pradesh, Telangana also.

The what benefit we get due to this presence, and since we are born here only, that we are very well recognized. That branding and the issue is not there, and we are kind of first choice bank here.

That benefit we are all already getting. Like this quarter, due to this festivity and other, like Governor sahab also you would have seen in spite of he raising repo rate by 25 basis points, he revised the growth projections for the country from 6.7 to 7 7.1%, 40 basis points.

That way country is also very resilient and robust, and we do not see any stress in our books also. We see that this quarter going further will be a good quarter.

Again, regarding pipeline of large corporate book you are mid-corporate book if you ask. Altogether already sanctioned not disbursed, and we have got good hot leads in hand, so that is around ₹47,000 crores, let's say, around in and out ₹50,000 crore.

In June also, similar kind of pipeline was there. I guess there is a sustained demand also from the market, most particularly from power sector, green sector, power evacuation, battery savers, data centers, so many from infrastructure also.

There are there is a good pipeline, I can say, that ₹50,000 is in my hand only. RAM is also doing good, sir.

Sir, my next question is how is outlook for recovery from written-off accounts? Second thing is on your subsidiary.

Third is treasury, we'll have a painful time. How are we weathering the storm where treasury is concerned?

If you can highlight more on your subsidiaries and the written-off accounts.

Sir. I'll start with the recovery part.

Recovery main, though there is no challenge as such. In percentage basis, we are recovering very handsome.

Every quarter, we are recovering more than what we are slipping. This quarter was also not an exception.

That is one. Yes, at the same time, let me accept that very pool of that written-off accounts is dwindling down.

All those gross advances also you see, it is only 1.33%. In the total absolute terms also, it is around ₹18,000 crore only.

Part of it is already resolved and recovered also, and Some of the outstandings are in our book only due to CIRP or PIRP processes. That pool is dwindling down, and we are not slipping also very heavily in the new slippages, only 0.15% quarter.

That pool is less. In absolute term, recovery will be not as much as what we are recovering as of now.

Yes, one or two quarters, there is absolutely no issue. Going further, that very pool is dwindling down, one thing.

There will be another benefits if we're not sleeping, then what we will recover. That is one thing.

Then next question you asked, sir, regarding

Subsidiaries,

treasury. Treasury.

Insurance and

Treasury and subsidiaries.

Yeah. Subsidiary, last time, two of our subsidiaries, we listed them.

They are all good profit earning earning, and their shares stock is also doing good. Canara HSBC Life and Canara Robeco, that is a mutual asset asset company.

This quarter also, we intend to, sell it out one of our subsidiary called Canara Bank Factor. That deal is already done.

Total investment was only ₹14 crore, but we'll get 4x. 4x we'll get, at least our share will get 4x.

That is on count of subsidiary. All We have got 14 subsidiary associates and joint ventures.

Everywhere we are doing good. All our subsidiaries are doing good and well giving synergy to us, and augmenting our balance sheet side also.

Then we come to treasury operations. Yes, there is pain in that side only due to hardening of yield, and at the same time, there were no much OMO operations, so that we had any arbitrage.

Last year, very handsome income was there from treasury side. This year, instead of income, there is a loss.

That everybody is exposed to that. We do not have much say into that.

Yes, with our own prudence, we are trying to minimize losses. Whatever is mandated like mark-to-market, you have to book, you have to book.

That is what we have booked and said I can't We will be not little bit less affected considering 80% of book is HTM, 20% may 15% is AFS, that will go to AFS reserve directly. 5% that vulnerability is there.

For one quarter, it was affected by ₹600 crore. That is due to 44 basis points hardening of yield in one quarter.

It is further they are further hardening. That is a dynamic situation.

We do not know. If we know, haven't we?

We can speculate, but there's no speculation. Whatever is there, we're coping with that.

That is being compensated by robust NII growth.

Yes, yes. I agree with you on all the parameters.

Sir, my last question. I know I won't get an answer, but still I'm asking you.

Looks government has expedited results season for PSU banks this time. This is led by some speculation or reality, we don't know, that there's a Diwali gift of some merger, and Canara stands out to pick one or two banks in the merger fold.

Do you have any comment on it?

No, no, sir. It was all our decision to give result at as early as possible.

If has got nothing to do with the government. It is all solely our decision, top management decision, and heavily supported by all my vertical heads and our statutory Central Statutory Auditors only.

Why we wanted to publish our result as early as possible, considering every quarter, we are publishing these results by 22nd, 22, 24th, and sometime by 28th of the month. In a way what happens, we lose one month.

Then we are left with only two months in the quarter. Even if you are not that much bogged down with the process of auditing and publishing of result, still your mind is occupied with the results and all.

That way we have just tried to make ourselves free. Now, at least we are having 2.5 months instead of 2 months to perform in the quarter, and this is a very important quarter.

Sir, if

all PSU banks are justifying by productivity, it's congratulation and best wishes that it sustains the same momentum for quarters to come by.

Thank you, sir. Thank you,

sir.

Thank you.

Thank you for answering all my questions.

Thank you. Stay blessed.

Hi, sir, good afternoon. Sir, few questions

from my side.

Firstly, if you can share what was the interest on IT refund this quarter? I believe the number for June quarter was roughly ₹250 crores.

Secondly, what was the quantum of AS 15-related provision in the June quarter as well as September quarter?

I'll ask CFO to answer, please, yeah.

This quarter we could book the IT interest income around ₹90 crore. Your second question is regarding AS 15 provision, pension and gratuity other put together ₹950 crore we have provided as per actuarial valuation.

This ₹950 crore, sir, is for September quarter, right?

Yes, this is for quarter. Correct.

What was the corresponding number for the June quarter?

June was also more or less same.

Understood.

Another ₹40, ₹50 crore was less, but more or less same trend.

Understood. Sir, and secondly, can you share any update on the ECL one-time provision impact which we will see?

See, amount we have not calculated exactly. What we roughly we presume, haven't we?

It will be somewhere ₹12,000 to ₹15,000 crores. It has increased ₹2,000, ₹3,000 crore, considering the hardening of yield, considering one-time provision for M2M will have to provide.

That the kind of CRAR we are having, 17.19%, which is as against 11.5% only, and CET1 also 8.5 we are against 8.5, we are having 12.80%. Even if in percentage term, we count, it will be not more than 1.2% 1.2%, 1% to 1.2%.

I guess we'll be easily selling selling through it, and the kind of profit also we are making. Last year, we could make ₹19,000 crores of profit, and this year also in half year itself, we have book booked ₹10,000 crore.

I think that will be not much. Only thing we have to decide in how many years we are going to do it, considering RBI has given dispensation for 5 years.

Nobody will take it to 5 years, let us decide. Otherwise, we are not very And kind of PCR also we are having 95.34%.

It will also also help. Kind of asset quality, improvement in asset quality is also going to help you.

Understood, sir. Sir, and you mentioned some additional impact because of the or rather, some revision in estimate because of the hardening of yields.

Can you just explain how the yields factors into the ECL calculation?

See, all those books now on date of reckoning in the 1st of April, nah? Like how we are doing mark-to-market as of now.

We have to do it mark-to-market. Yes, HTM will be not mark-to-market.

Yes, yes, HTM will be also mark-to-market. That will affect us by ₹2,000 to ₹3,000 crore rupees, depending upon how much holding we are on that day, and what is the yield rate on that day.

We do not know it will further harden or soften. If at the same level we have calculated, then also it will be ₹2,000 to ₹3,000 crore.

That is not much impact of that also. That is also going nowhere out.

It will remain with you only. That provision that is a provision.

It will come, it will go. Sometime you write back, sometime you have to provide.

Okay. Sir, in that case, how do you expect to protect your RoA of 1% because it seems like the credit cost will inch up next year?

Credit cost is not a Yeah, you answer, please.

This is credit cost will only increase if I make a provision for that. Extra provision for going forward.

It is yet still not decided what the industry will do, whether a part of it will be passed on this. That will be based on the industry scenario.

At this point, we do not see that will affect much. In case we decide to make provision for that going forward, that will have some credit cost effect.

As you have seen, our credit cost today is below 0.5 0.5. It will And the kind of asset quality improvement that is happening, and the kind of slippage restrictions are happening, I think that will automatically offset if any such provision requirement.

Understood, sir. Sir, and another thing you mentioned was on the gold loan yield, that the yield has gone up by roughly 15 basis points quarter-on-quarter.

Do you expect to take more hikes going forward? Can this yield go up further?

Certainly. When it comes to gold loan, we are earning as of now 9.10%, but it is going to give further because rates are now hardening.

I think we can have better yield in a gold going forward. Still, we are lower than many of the peer banks.

Understood, sir. Sir, and just lastly, one data-keeping question.

If you can share the slippages across segments for the quarter?

Okay. Total slippage is ₹1,844.

Segment-wise, I will tell you. Slippages are the color segment-wise.

I'll just tell you. Yes, ₹687 crore we slipped in agriculture, ₹13 crore in corporate, gold mein ₹40 crore, ₹777 crore in MSME, retail ₹327, all taken together ₹1,844, ₹1,844 crore.

It is not somewhere very concentrated sort of, yeah.

Understood, sir. Thank you very much for answering my questions.

Thank you.

Yeah. Hi, sir.

Congratulations on a great quarter. Yeah.

Sir, firstly, just to again pick up on the comment you made on ECL, did I hear you correctly, you said that the extra provisioning may not pass through to the bottom line, there might be some, say, pass-through to the customer? Is that what you were trying to imply?

No, no, no. We said, haven't we, how market is going to respond, we will be aligning with the market.

As of now, there is no plan to pass it on to the customers. Even if we are not passing, then okay, then RoA will be not say in excess of 1%, then new normal will become 80 basis points, you see.

That is also very handsome and good. Yeah.

That is what we are trying to understand, sir, as investors that will we reset to a new normal or will our effort be

That will be very premature to say. That market will decide, nah?

As of now, we do not see much of movement out of that also

only. Sir.

This ₹12,000 to ₹15,000 crores, sir, when I look at it as a percentage of your net worth, your reported book value, sir, it is almost 10% of your book value. When you are saying the phasing of that over 5 years, on day one, will your net worth look 10% lower or will that also get spread over 5 years?

No, no, no. You answer.

It

will be spread over 5 years. That option is there, but we don't think we need to spread it over beyond 2 years.

If not in first 1 year itself, it all depends if the bond yields remain elevated, then we may have to cover it in 2 years. I think 2 years should be more than enough, given a profit of more than ₹20,000 crore and asset quality coming improving still, maybe coming to below 0.3.

The provision coverage going up beyond 95 to 96, 97, hopefully. I don't think that we will need more than without denting even your credit cost and even RoA for that matter.

Because one thing you should also look at an overall profit improvement going forward. I feel that even if we have to provide, that will neutralize given the increased profit figure, absolute profit figure.

Okay. Okay.

Got it. [Foreign Language] And on the quarter, sir, I wanted to understand so, there is a very strong growth in agri quarter-on-quarter, 10%.

Is that largely the old loans that you have seen or anything to call out over there? No,

no, this is not only gold loans. Core agriculture also we are growing close to 9%.

That is there. Because we have seen growth in the first quarter, that is June, September in the same line, and we have done exceedingly well under core agriculture also.

Yeah. No,

to be very specific, out of the total agri of 3,04,000, gold is 1,74,000 and core agri is 1,29,000. 1,30,000.

Similar numbers for last quarter? Yeah.

Last quarter was 151, ₹1,51,000 was agri gold, and core agri ₹1,25,000. Got it.

Got it. Thank you so much and congrats.

Growth is broad-based,

sir. Growth is broad-based, yeah.

Thank you so much.

Yeah. Hi, sir.

Can you hear me?

Yes, please.

Hi. Thanks a lot for the opportunity, sir.

Sir, I would like to know what is the amount of disbursement we have done under ECLGS?

So ₹13,000-plus crores.

Fine, ₹13,000-plus crores. What were the advances given against the FCNR(B) deposits?

$3.2 billion. Out of $5.8 billion, $3.2 billion.

Okay. Fair enough.

My last question was is it fair to assume that large part of the FCNR B deposits that we have garnered have been utilized this quarter, and from next quarter onwards, we'll again have to rely on the bulk deposits if we want to maintain the these levels of

No, yeah, part of it has been utilized, but part of this has been used for replacing. Our bulk has not increased.

It was constant.

Okay. Fair enough, sir.

Thanks a lot. Thanks a lot, sir.

Hi, sir. Thanks a lot for the opportunity.

Sir, any other avenues of fees that you are investing your time and capital on? Also what kind of upside you see on MDR latest MDR inclusion for UPI money transfer?

Thanks a lot, sir.

We are investing heavily, both in terms of money and time also, in our all those digital advancements, haven't we? We are just working on adoption part of it, may it be QR code, may it be school fee collection modules, internet payment gateways.

Regarding the second part of your question, that we have not calculated as it has not come yet. As of now, we are out of cash only by way of paying some switching charges, you can say, switch charges and all.

That we do not see much earning considering our penetration in PSPs. Like we have also one payment service provider platform, that is called Canara ai1 Pay.

That has not been popularized very very very much. We do not see since much of earning will be there, and that too it will come on more than ₹2,000 rupees, and again it is capped at ₹300.

I do not see much of earning out of it. Yes, going further, if volume further increases, our platform is widely utilized, then only we'll get to earn something.

As of now, we are out of cash only, considering we have to pay charges to others, since other platforms are being utilized or somewhere acquirer is different, somewhere payee bank is different.

Understood, sir. Thanks a lot, sir.

Hi, sir. Thank you for the opportunity.

Sir, can you help me

Hello?

Sir, can you help me with the all ticket size SMA 0, 1, 2 for the quarter as on date?

Okay. If it is ₹5 crore and above, then our total SMA, including 0, is only 0.51% percentage term mein, and in outstanding time, it is ₹7,000 crores, that's all, on a book of ₹13,75,000 crore.

When it is all taken together, not ₹5 crore and all, everything taken together, then it is 2.42 percentage, that is in absolute terms is ₹33,340 crores, that's all.

Sir, can you break it down into SMA-0, 1, 2 also?

Yes. If you take SMA-2, then if ₹5 crore above we are talking about, it is 0.21% only, ₹2,838 crore.

If you are talking about SMA-1 in ₹5 crore and above, it is 0.09%, ₹1,304 crore. Taken together, SMA-1 and 2 is 0.30%, ₹4,142 crore.

All SMA-0 is ₹2,901, and in percentage term, it is 0.21%. All together, 0.51, ₹7,043 crore.

If we take all, even ₹1, then SMA-2 is 0.9%, SMA-1 is 0.53%, total SMA-1 and 2 is 1.43%, and SMA-0 is 0.99%, taken together all, it's 2.42% only.

Right, sir.

Thank you.

Also, sir, can you give me the LCR for the quarter?

Pardon? LCR?

115 as of 30th of September, 115.

Sir. Thank you so much.

Thank you.

Yeah.

Yes, please.

Yes, sir. Yeah.

I'm audible, sir?

Yes, please.

Yeah. Sir, firstly, in terms of the impact of the treasury, that MTM is negative of 600 for this quarter.

What is that total number for H1 and the comparable number for last year, sir? [Foreign Language]

Okay. We'll

answer. I'll respond to this.

[Foreign Language] trading, MTM, OMO, and others, [Foreign Language] it was ₹654 crores. In this quarter, it is ₹153 crores.

This is And if I compare to previous year, it was ₹1,217 crores, basically on MTM profits of ₹762 crores. in September last year.

Last year, it was profit of ₹762 crore, and this time it is a loss of

On MTM, it is a loss of ₹61 crores. If I compare to previous quarter, it was ₹611 crores MTM profit.

Sir, what MD sir mentioned was that for this quarter, we have booked losses of ₹600 crores. That understanding is correct?

No,

no, as compared to last quarter.

Last quarter.

There was a ₹550 crore earning in last quarter. This quarter is ₹50 crore loss.

If you add them, it becomes 60 ₹600 crores.

Yeah.

It's like that.

Sir, next coming to the valuation part, sir. Our book value currently 124, closer to ₹125, and the market price is closer to either 120 or 125.

We are trading at one time book. What, according to you, sir, are the steps that are still in the anvil that will improve the valuations for the investing community as you have guided for 2.5 NIM and RoA closer to 1.02.

Where are we, sir, in terms of that valuation curve that would benefit your investors? Second point is on the bid pipelines of loans.

If you could just give us some color how that pipeline is shaping up and our win ratio in the same?

Also we say, can he even people start showing interest into it. It is trading on book value or even little less than also, but today we have gained some market after this result, and I guess, if you people are spreading good thing about us, all these analysts and all, it will further go up.

I have personally and along with Mr. Majumdar, our ED, went Mumbai and met many of the analysts or our investors also just to bring about our perspective.

For our part, we have to perform. We are performing continuously for last 2, 3 quarters.

You see last year also we have posted ₹19,000 crore, and we have given 220 basis points of yield also. Our yield is also more than saving bank rate of interest.

People will understand, and they'll start investing and remain invested. It will take our share to some greater heights.

That is I wish and pray. Regarding pipeline, we have got 50,000 ₹30,000 ₹30,000 hot lead, and ₹17,000 already sanctioned, but not disbursed.

Taken all together is ₹47,000 crore, close to ₹50,000 crore. This is basically all from green energy, battery energy saving, power evacuations, and data centers, some HAM projects also, one or two.

It's widespread. A lot of good pipeline we see.

Going further also, we absolutely have no dearth of good leads and proposals. From these sectors, we are getting good deals and all, and we have given many NBDs also, those things also will come and materialize.

Hi, sir. Thanks for the opportunity.

I know we've spoken a lot on ECL, but just one last bit on the steady-state impact. I think last quarter, we had called out that it would be very minimal, around 4 to 5 bps.

Have we had a chance to firm up those numbers?

Come again, please.

Sir, last quarter, I think we had mentioned that it would be 4 to 5 bps, the steady-state credit cost impact.

Yes. No, if you remember, last time, we said 10 to 12,000 will be the requirement.

Now, with the given market conditions, that is firming up of yields and this, we are saying it for HTM category because we understand even HTM may require a provisioning. If this kind of yield continues, we expect it to maximum maybe instead of 10 to 12, it may be 12 to ₹15,000 crore, maybe a 14, ₹15,000 crore.

We are also optimistic if the oil prices comes down, the de-escalation in political scenario happens, we may come back to the previous forecast of 10 to 12. Maximum, we envisage around maybe 14 to ₹15,000 crore.

You have seen in that my CRAR is today at 17, above 17, and 17.19, and even my CET1 is very comfortable at 12.8. We have a real control on the risk-weighted assets, which is coming down quarter-on-quarter, and there is no reason this trend will not continue.

Keeping all that into consideration, we feel now the question is whether we should provide in 1 year or we should spread across a couple of years since we have the flexibility given by regulator. That we'll take a call maybe as we come towards in the last quarter.

Yeah. Hi, sir.

Thank you, sir.

Yes, sir.

Sorry, Jay. Sir, thanks for that, but I meant the steady-state impact, not the one-time impact.

If you could clarify on that?

See, that may not be, because you are talking of April going forward in the coming year, that we'll have to see, wait and watch whether I do provide for that, or we decide to pass it on. That the market conditions will decide.

I don't see a much effect on the overall financials because even if we decide to provide, given the dwindling credit cost and the other parameters I said, that should get offset. There cannot be any upside to that.

I don't think what projection we gave earlier, we need to enhance that. As on today, I don't see that happening.

Yeah. Hi, sir.

Sorry, sir. No, on this ECL, ₹10,000 to ₹12,000 going to ₹12,000 to ₹14,000, is this including HTM, which on investment also, right?

Yes.

loan loss provision. Do they also impact or no?

No. It is including HTM.

Yes, you understood correctly.

Correct. Sir, do you have a number because I think yields impact will be uniform across banks, right, depending on their HTM

Absolutely. Yes.

but on loan loss only, only loan-related provision, do you have a number, sir, for how much will be the advances plus maybe credit

substitutes put

together?

No. We have not crystallized the number, but this what we have just said, taking into HTM, I don't think it should vary significantly on that total number.

Right. Sir, this September 30th, banks were supposed to make the, final kind of a run on ECL, right?

Have you

done any No, there is nothing.

No. There is nothing that September 30th.

We have time up to April, maybe by end of this quarter. We

have this thing had our this thing, Ernst & Young, is our knowledge partner, then Coforge is also there. Technological capabilities, we are working on.

Models we are writing, nah? Those things are all under testing and final stage.

Somewhere in this quarter, we'll have that dry run and all. Technical capabilities also we have to grow, nah, same time.

Right.

Yeah.

Okay. All right, sir.

Thank you so much.

Thank you.

Thank you, all who have participated, and very enthusiastically, you have understood our balance sheet also, and probed and asked questions also. I would request all of you to please just like some of the analysts asked why our share price is not fancy in the marketplace, I would request all of you to propagate something good about us, our fundamentals.

You see, we are continuously working on our efficiency parameters more than top lines, and kind of strength we are giving to balance sheet, like you've seen, 175 basis points we have increased in PCR. We have shown more profit.

Instead that, we have provided for PCR, which is going to help us in ECL considering there were many questions in ECLs also. We're very well capitalized.

Our assets are very balanced, very good quality of assets we have got. We are going at a very good pace.

Our NIM are protected. We are making good kind of profits, there is no case that we are not being rewarded in the marketplace.

Today, yes, market has responded very well after our results. Let us hope, and we'll ask your help also to give us kind of support in the marketplace so that our market capitalization increases.

That is all from my side. Thank you all for being there for us, and every time, every quarter, I see some of you and most of you are there and that shows your interest in Canara Bank.

Thank you, and appreciation for that also. Thank you, all.

Have a good rest of the day.