Good evening to all of you. First, let me share the highlights of December quarter results.

Our bank's global business stood at 27.1 lakh crores, and it grew at 13.23% on a year-on-year basis. The global deposits stood at 15.21 lakh crore and grew at 12.95% year-on-year basis.

The global advances stood at 11.92 lakh crore and grew at 13.59%. Operating profit stood at 9,109 119 and increased on year-on-year year basis at 16.36%.

The net profit stood at 5,155 crores and grew at 25.61% on year-on-year basis. The return on asset improved by 9 basis points year-on-year basis and stood at 1.13%.

The PCR on a year-on-year basis improved by 293 basis points and stood at 94.19%. Our credit cost was at .64% and improved by 25 basis points year-on-year.

There was a GNPA decline of 126 basis points on year-on-year basis and stood at 2.08%. Our net NPA stood at .45% and declined by 44 basis points year-on-year basis.

Now, our more than 13% credit growth is driven by RAM credit, which stood at 7.04 lakh and grew at 18.70%. The retail credit grew at 31.37% and stood at 2.73 lakh crores.

The housing loan grew by 17.58% and stood at 1.21 lakh crores. Vehicle loan also shown fantastic growth.

The growth was 26.20% and stood at 25,098. MSME has also shown robust growth of 13.74% and stood at 1.60 lakh crores.

The earnings per share was at 21.48 rupees and improved by 22.11%. Our CET1 stood at 12.37%, which improved by 40 basis points year-on-year.

Our slippage has shown enormous decline. It declined by 32 basis points year-on-year basis and stood at .64%.

Now coming to the guidance parameters, in the beginning of the year, we have given guidance numbers for 13 parameters, and we have easily surpassed and comfortably surpassed 11 parameters, except CASA and NIM, which is industry challenge. Now I am joined along with me Mr.

Bhavender ji is here, who is ED; Mr. Majumdar ji is here, who is also CFO ED; and Shri Sunil Chugh is also there, he is also ED; and all my CGMs, vertical heads are now ready to respond to all the questions.

Thank you.

Hi. Hello, sir.

Hello, madam.

Hello. Sir, I had a couple of questions.

Firstly, on your margins. I appreciate that the repo rate was cut, and there was pressure on margins, but from a strategic longer-term point of view, see, our margins are already slightly lower than peers, right?

People are ruling out a policy cut in the forthcoming policy, but these things are still evolving. Maybe after one or two policies, there are rate cuts again.

Given that our margins are already lower than peers, what are the steps we would take to bring them at least in line with peers? Is there a growth-margin trade-off?

Is there a level below which we will not want margins to fall even if there are rate cuts, say, a quarter down the line or two quarters down the line? What is the absolute level of margins that you would be comfortable with at any point in time?

Otherwise, we can slow down growth and improve margins a bit, given that we have a traditional issue with CASA. That's my first question.

My second question is on ECL. What would be the broad impact of ECL not the impact of one-time transition, but on an ongoing basis?

If ECL were already implemented today, what would your credit cost have been instead of what you have reported this quarter? That's my second question, sir.

Okay. Madam, now I respond to it.

Regarding margins, our NIM contracted by 2 basis points because on 5th there was a reduction in repo by 25 basis points, and our 49% of our advance is repo linked. Immediately that transition was happening in those accounts.

Yield on advances contracted by 6 basis points, although the cost of deposit also reduced by 4 basis points, which had a net impact on NIM of 2 basis points. Going ahead, if you see, there is a strong drive in RAM sector.

Our RAM is showing a growth of 18.70%, and it is led by retail, which has showing 31.37% growth, and MSME also, you see, is growing at 13.74%. On MSME, the yield on advance is 9.28%.

In retail, it is 8.88%. Our strategy going ahead is to further capitalize because if you see our guidance number on advances, our advances growth is more than 13.5% 59%.

To capitalize on this retail momentum that has been built. Now coming to the CASA front also, if you see our saving bank is growing at 8.51%, and saving bank individual is growing more than 10%.

We are performing better than the peers in savings. Even if you see the current account, it is growing at 14.92%.

Only due to one single transaction that has happened previous quarter of 26,000 in current account, that is why Q-on-Q some dip is there, but CASA growth is shown as 9 9.32%. I think we will retain this margin with the same momentum going ahead in the CASA and RAM growth.

Even if further reduction in repo happens, we presume that our NIM will be in the range of 2.45 to 2.50. Coming to ECL the other parameters, madam, it is going to be implemented from 1st April 2027.

Now, our bank is making last year it has made a profit of 17,000. This year, going by the same trend, our profit will be in the range of 17,000 to 20,000.

In the ECL, under Stage 2, because Stage 1 and Stage 3 does not have any much material impact because it is almost similar to IRAC norms, but in Stage 2, some impact will be there because the provisioning increases from .4 to 5%, and there we see that 2 2,500 additional provision will be required, and for NFB also, non-fund limits, some 2,500 will be required. Coming to the default rate on Stage 1, additional provision of 5,000 may be required.

If I total that one, it will come around 10,000, and that can be amortized in 4 years. The impact may come to 2,000 to 2,500.

Going by the profit we are earning year-on-year, it is very much absorbable, and our CET1 is very strong.

Yes, no, but, sir, the credit cost on a quarterly basis, will that figure change? This is the transition impact.

10,000 crores over 4 years is the transition impact. On a run-rate basis--

Madam, I'll answer to it. If you see my slippage ratio, it is .64, which is the industry best if you can compare with our peers.

Our SMA, in absolute numbers, it has come down from 46,000 to 35,000. From 4.16%, our total SMA has come down to below 3%.

On both fronts, we are very, very comfortable to absorb this one. We don't see any further

What will be your SMA below 5 crore, your total SMA that is above and below?

Total SMA is 35,604. Last year in December, it was 43,917.

Even our advances has grown above 13%, our SMA is on absolute numbers, it has come down from 43,917 to 35,604. That's a credible achievement, I tell you.

Slippage also, it is in absolute control, and our slippage ratio is .64%, which you can compare with others, it is industry best.

Yes, sir. Got it.

Sir, just one last thing. How much of deposits are left to reprice?

A lot of deposit repricing has been done. How much of it is left in terms of term deposit repricing?

Only 15% is left for repricing. If you see, year-on-year there is a 77% dip in the cost of deposit.

Right, correct. Sir.

Thank you so much.

On retail term deposit.

Yes, sir.

Sir. Thank you for the opportunity.

My question was related to our PSLC fees, which has been pretty low as compared to what we saw in last quarter. Is it more of seasonality, or you are strategically booking lower PSLC fees in this quarter, or is it something to do with an RBI action where some reclassification has happened, if you can explain on that front?

Mr. Dama, if you have followed us, PSLC, it was only a product or earnings of the first quarter.

For third three consecutive years or two last consecutive years, we have only earned in the first quarter of 12 to 1,300 crores. This quarter, not only we have earned 12 around 1,240 crore, we have earned 900 crore in the second quarter.

Third quarter, actually there is no chance for a PSLC. There also we earned 140 crore, and I assure you we'll earn a substantial amount in the fourth quarter also.

It is the industry. If any regulatory thing has happened, it is only helping us, and it is helping us as a renewed avenue of a sustainable quarter-on-quarter earning, which was not so till last year.

You will see it is in the first quarter and last quarter some amount we

Right.

It is now a sustainable thing over three quarters.

Our total priority sector against 40% norms is now at 45.25%. There is still some space for offloading PSLC in the fourth quarter to supplement what Majumdar sir is on.

Yes.

Sir, similar kind of fee income is what we should also build in for next year if things remain same?

No, from PSLC perspective, we don't see much difference unless the banks which purchase from us starts change their portfolios. As of now, at least next year, there should not be any effect.

Going forward, we can't say.

There will be always surplus and deficient players of PSLC, and Canara Bank has that advantage.

Sure, sir. Sir, what explains a quarter-on-quarter jump in our other opex?

Is there any line item where we have seen some surge in the current quarter?

If you see the other operating expenses, there are two one-time items. One was IPO charges that Canara Robeco and Canara HSBC, that needs to be absorbed by the promoter.

For that, there is a fee of around 80 crore. Another 80 crore is of depreciation.

That is for the employee benefit as a part of the furniture scheme. The furnitures for employees were replaceable every 10 years, which we have brought down as a extra facility for employees to 5 years.

To do that, we had to provide additional depreciation. It is one-time.

At par with industry.

Industry, most of the banks. That around 160 crore.

Another 100 crore on technology-related expenses were there, that is AMC charges and that on the ongoing capex that has happened. This is a more or less around 250 crore, which is of additional, which is not of routine nature.

Sure. Sir, taking fall from Mahrukh's question, should we see a margin bottoming out if there is no further rate cut, or we should still see some contraction in the margins going forward?

Yes.

That is yes.

With the OMO coming up and the swap being announced, the liquidity will be injected, and we see that cost of deposits further cooling down. Yes, if the rate cut doesn't happen, we see that it will stabilize.

Sure, sir. That's very helpful.

Thanks a lot.

Sir, your question, sir? Not audible.

Piran,

Hi. Sorry.

Sir, first question is out of the total recoveries from the written-off account, what went to the interest income line item?

Total write-off recovery, more than 2,000 crores it is there, now? Interest income

370.

370, about 370 crores went to interest.

Interest.

Sir. Fair enough.

Thanks. My second question is you have raised your so within the term deposits, within the 1- to 3-year bucket, you have raised the deposit rates by 35 bps in January.

Should we expect that to flow into the cost of funds say by Q4 or Q1, and therefore, the decline in the cost of funds will not be as much as what we are anticipating? Is that the right assessment?

Almost 15% is now replaceable the term deposits. We see there is a steep decline.

Whatever we have raised last year, if that is getting replaced, we are getting some 70 77 bps lower in the new deposits.

Sir. Fair enough.

Thanks a lot, sir.

Hi, sir. Good afternoon, and congratulations on the quarter.

Thank you, sir.

Sir, my first question is, sir, if you can bifurcate SMA-0, 1, 2 separately out of 35,000 crore number? Have you started providing anything on SMA-1, 2 just for ECL transition?

Yes.

Sir, our SMA, in absolute terms, it has come down from 43,000 to 35,604. The SMA-2 has come down from 21,268 to 15,454.

SMA-1 has come down from 11,882 to 10,593. SMA-2 has come down from 2% to 1.30%.

SMA-1 has come down from 1.13 to .89%. And 1,946 crores in three accounts, we have done additional provision as prudent banker outside the SMA purview.

If you see that SMA-1 increased due to shifting of only one account, Kaleshwaram irrigation project.

That is 5 crores and above. Total I am telling.

Because that gives a bigger picture. Our SMA has come down from 4.18% to 2.99%.

Our slippage has come down to .64%, that is industry best. On both counts, our bank is doing extremely well on slippage also and reduction of SMA also.

Right. Total.

Right. Out of this 15,000 and 10,000 crore of SMA-2, 1, sir, outside of this Kaleshwaram and some other large account, are we providing any rule-driven provisioning, or as of now, there is no rule-driven provisioning on SMA-1, 2?

Sir, as on date, the provision coverage ratio is 94.12%. In these three accounts, we have provided 1,946 crores.

The outstanding is 6,600, although we don't see that it will slip because continuously these are appearing in SMA.

Right. Sure.

Secondly, sir, on your gold loan, if you can quantify, sir, how much is the agri gold loan and retail gold loan on as on December? Is there any change in the way you classify retail or agri gold because there have been observation at other banks, in this assessment by RBI or in general also?

Yes, sir.

Sir, our total gold loan portfolio 2 2,21,000. Out of that, agri gold is 1,48,000, and non-agri is 72,661 crores.

Very consciously, we have rolled back the products of gold loan in metropolitan and urban centers because that was the RBI observation. Now we are totally complied to it, and our gold loan portfolio is improving at 30% on a Y-o-Y basis.

Right. Sir, there's strong jump in the retail, right, 30% plus.

Is this a buy-out thing, or this is totally organic growth? How should one look into this?

This is totally organic.

No buy-out in the retail side.

No buy-out, sir. Totally organic.

Okay. Sure, sir.

Good afternoon, sir.

Good afternoon.

Compliments to you, Ahluwalia sir, and the entire team. Am I audible, sir?

Thank you, Meena sahab. Yes, audible.

I'm Ajmera, sir.

Ajmera sahab.

Yeah. How are you?

Ajmera sahab, namaskar.

Hope all is well. Yeah.

All well.

Sir, my compliments to you for the I think highest ever quarterly profit of 5,155 crores. I think the last time we touched 5,000 crore was in Q4 '25, if I am correct.

My compliments to you and the entire team. Sir, my first question is on the credit growth target.

In 9 months itself, you already achieved around 11% of the credit growth, whereas your target for the overall whole year was 10

to 11%.

Would you revise it now upward on this? Similarly, in case of opposite side, in case of deposit, the target is 9 to 10%, but we could achieve in 9 months only 6.39%.

Little divergence there. Would you maintain your target on the credit the same, or you will increase by, say, 2, 3% up?

Yes, sir.

Sir, coming to the first point regarding compliments on profit, sir, this net profit we have made despite increase in provision ratio by 293 basis points. Despite making huge PCR, and still we have maintained the net profit and recorded the highest net profit.

Regarding credit growth, sir, you have told we have given a guidance of 10 to 11%, but already we are crossing 13.59%. We see that going ahead, this will be maintained.

In the deposit side also, we have given a guidance of 9 to 10%. We are already near 13%, and we see that it will be maintained in the fourth quarter also.

No, there were some disturbances, but anyway, I could hear you properly. Sir, in fact, one of the major contributor of the profit in this quarter was treasury income also, which is almost doubled from the last quarter to 3,056 crore now.

Profit on sale of investment is 2,590 crore out of that. Going forward, whether the treasury will continue to contribute so much in the profit for the last quarter of this FY26, or we might see slowing down and maybe the income on the net interest side, the income is higher?

This is how we'll be able to maintain the 5,000 plus quarterly profit? Sir.

Sir, in the Q3, due to listing profits of Canara Robeco and Canara HSBC In Canara HSBC, we offloaded 14.5% stake, and in Canara Robeco, we offloaded 13% stake and could gain 2,006 crores. Going ahead, if the yields soften, then definitely this will be maintained.

At the moment, the yields are not cooling. Suppose the more OMO operations takes place, and with the buy-sell swap if liquidity flows and cost of deposits come down and the yields soften, then definitely treasury will take a upturn.

Sir, as regards the NBFC portfolio, I know that the Canara Bank is always not very optimistic and encouraging the co-lending part and other things. Off late, is there any change in that stance on the NBFC side and co-lending side, and what is our present exposure to the entire NBFC sector, the loans given to NBFC for onward lending, sir?

Sir, the NBFC exposure is at 1,51,000, and it is growing at 6.09%. We are open to NBFC lending provided the rates are good.

Normally, the AA, AAA-rated NBFCs when they approach us, and but the rates are not competitive, then we are shying away for that because protection of NIM is also our major criteria. While we are growing at more than 13.59%, we don't see any reason to entertain low-yielding advances.

No, point well taken, sir. Point well taken.

Sir, in the written-off account is good in this quarter of 2,051 crore. What is our total written-off book, and do we expect to maintain the same momentum of recovery from the written-off accounts?

Sir, if you see last three, four quarters continuously, our recovery in write-off has been consistent, and that will continue, sir.

What is the total written-off book, sir, size?

64,000, 66,000 crores. 66,000 crore.

Are we going in the range of some 7, 8% kind of recovery from this book for the whole year?

Sir, we have taken a conscious call that it has to be more than 2,000 crores range, and we are continuously trying to achieve that numbers. If you see last December also, it was 2,008 crores.

This year, 2,051 crores. Although my total NPA book is falling, but we are trying to maintain this recovery ratio.

Sir, any calculation has been done like one of the other bank is also doing on the underwriting standards? Over the last 5 years, post COVID, how much amount of the loan has been sanctioned and disbursed, and what is the NPA ratio out of this new underwriting of this last 5 years?

Is there any such which will give the color to the present underwriting standards and how the bank is going forward?

Sir, already if you see, our underwriting standards has improved, and our slippage ratio is now industry best at .64%. That is a reflection of good underwriting standards already prevailing with Canara Bank.

Your SMA also has drastically come down from 4.16% to below 3%. Definitely underwriting has played a very, very important role in that.

Good, sir. Thank you very much, and all the very best to you and everyone sitting there.

Thank you. Thank you, sir.

Thank you very much, sir. Thank you, sir.

Hello. Hi, sir.

Thanks for the opportunity. Sir, what would be our average LCR for the quarter?

It was around 130% last quarter.

Our LCR is 125%.

125%. Sir, fair to assume that borrowings increased in the quarter, proximity of 60,000 crores was back-ended?

Also wanted to understand at what yield and what instruments were these?

Please repeat your question, Bhavik.

Hi, sir. Sir, our borrowings increased by 55 57,000 crores this quarter quarter-on-quarter.

It was 90,000, and it is 1.5 trillion now. I just wanted to understand what instruments were there and at what cost have they come in.

No, if whatever borrowings have increased, it is on two fronts. One is we have raised AT1 bonds this quarter, and there was refinancing from NABARD and SIDBI of our existing loans.

These are the only borrowings that we had in this quarter, and a part of this borrowing, that is AT1 bond, is replacement of old also. That maybe the net increase is only 6, 700 crore in as far as Tier 1 bond is concerned.

The rest is mainly SIDBI and NABARD refinancing at a lower rate.

What sir is asking is borrowing increased. Our SLR is 24%, and the prescribed is 18%.

We have excess SLR of 6%, and whenever the opportunity comes, we borrow and take that advantage. That is part of the borrowing only.

Understood, sir. Sir.

Sir, would you be comfortable to share the refinance cost of NABARD and SIDBI?

Refinance cost of?

It is around 5%.

Okay. Okay.

Sir, last thing, sir, standard asset provisioning, last quarter was also 300 crores, this quarter is also around 286 crores. Sir, anything specific to read here?

Standard asset provision, one is we had to provide for DCCO extension. That some provision of around 80 crores is there around 90 crore is there.

Other than that, I think these are in routine nature. There is nothing else.

Understood, sir. Understood, sir.

Thank you so much.

That's it

from my side.

Yeah. Thanks for taking my question.

I wanted to ask on the recoveries from written-off account, 2,050 crore in this quarter. Can you give some mix between retail and corporate, whether there is chunky accounts that we've seen or is there a retail granular mix?

Actually, in this written-off recoveries of 2,051 crores, there are four major accounts. One is Chenani Nashri, we have received 288 crores; Karanja Terminal, 271 crores.

Few bigger accounts will always materialize.

Got it, sir. Sir, but would there be a reasonable chunk of retail recoveries also in this?

Sir, not properly audible, sir. PSLC?

Yes, that is around 50-50, retail and

corporate. Even for the 9 months, it will be like that?

That is retail recovery, PNTWO. That is around 1,000 crore per quarter.

1,000 crore per quarter you're getting in retail recovery.

That is yes, from retail recovery in TWO is on an average. In some quarter it may be more, some quarter it may be less, on an average around 1,000 crore, 900 to 1,000 crore.

Okay. Okay.

Very helpful. That's all from my side.

Good afternoon. Two, three questions from my side.

Firstly, on the margin front, do you see any room to cut your term deposit rates or hike your loan pricing, let's say, on housing in order to boost your margins from here on? That is one.

See, we are continuously studying the market, and our term deposit is pricing according to the prevailing market conditions.

Got it. On the home loans, you think you can increase the pricing there potentially?

It is repo linked and prevailing market conditions.

Understood.

Got it.

Secondly, the borrowings Yeah, sorry, sir.

No, carry on. Carry on.

The borrowings which have gone up, how much further can they go up from here? I heard your explanation on what is causing it, but how much further can it go up from here?

We feel we are already at an optimum level. Borrowing is always as a product, and we don't want to increase it.

We borrow just to leverage our cost, just to see. That is, as sir said, a major chunk is overnight, that also that with excess SLR that we do to neutralize the cost.

Take opportunities in the market.

Market. I don't see that going up much.

That is at an optimum level.

Got it, sir. Lastly, the bad loan recoveries have been quite good for the last couple of years, both from the written-off accounts as well as from NPAs.

What is the outlook you have for FY27?

Sir, it will continue because the recovery tools in market today, we have NCLT options, we have DRT options, SARFAESI options, your Lok Adalats being regularly conducted, we have aggressive OTS schemes. We don't see any shortfall coming.

We have been consciously maintaining that. Recovery actions are prescribed as per the accounts.

Similar run rate as this year is possible?

Sir, it will continue.

Thank you, sir. Those were all the questions.

Hi. Thank you for taking my question.

Firstly, wanted to ask around so we got this 2,000 crores of one-off profit. Have we utilized that to make any contingent buffers, and what would our current contingent buffer be?

Sir, in three accounts, we are maintaining 1,956 crores as abundant precaution, although we don't foresee any slippage in this account, but as prudent banker, we have done so. Whatever regulatory provisions are coming up, like for DCCO extension and all, we are making adequate provisions for that.

Also you see our provision coverage is going up every quarter. It is, as you said, when you compare us with our peers, we are a shade below them.

We also want to be in that space of our peers as far as provision coverage is concerned. As sir said, in standard asset, wherever there are some weaknesses, we are proactively making provisions within the regulatory framework.

Going up. Yes.

Understood. Understood.

My second question was around current account balances. There has been overall a lot of fluctuations when I see on a quarter-to-quarter basis.

Overall on our deposit strategy, I wanted to understand what are we trying to do in order to improve the deposit franchise since it's relatively weaker when we compare it to the peers? Thank you.

Sir,

this current account fluctuation is due to one account. In September quarter, we have got some 26,000 crores deposit in that account.

If we subtract from the prevailing this one, the September this thing, then from 49,000, it has grown to 54,000. In current account also, we have seen 15% roughly growth.

In saving also, we have seen a growth of 8.51%. Within saving, actually individual is more than 10%.

We are performing quite well in that CASA space. It is growing at a rate of 9.32%.

Sure. Thank you.

Thank you for answering my questions.

Thank you for the opportunity, sir. First question is there is a strong growth in retail at 31% Y-o-Y.

I see vehicle has grown at 26%. If you could also tell us which are one or two top products outside vehicles that are growing in that book?

Also if you could help us with your average yield on vehicle book as well as some of the other products ex housing? I believe you spelled out your average yield on retail book is 8.83%.

What would it be on vehicle and some other fast-growing products?

In retail, sir, our yield is 8.79%. That comprises of the total retail portfolio of housing clubbed with your vehicle loan and other retail products.

In RAM sector, it is 8.88%.

What is the yield on vehicle book?

Huh, sir?

What is the yield on our vehicle book?

It should be above 8.5. It's around 8.5.

Okay. Sir, what are the other products ex of vehicle and housing that are growing rapidly in retail?

In that, around 70,000 or 74, 75,000 crore is gold loan portfolio, which is growing at a jet speed, more than 30%.

What would be our yield there, sir?

There, it is around 8.8. It is around 9, a little below 9.

You are confident of this 8.79 holding up and expanding next year as well? Absolutely.

Yes.

Absolutely, yes. That portfolio will grow at this speed.

Great, great. Congratulations, team, and all the best.

Thank you, sir. Thank you.

Thank you for taking my question. The first is, despite a strong retail growth, sir, why is our margin down sequentially by 5 basis points and while the LDR has also gone up?

Sir, margins are low because the CASA is not growing to the level. It is growing at 9.32%, and our average CASA is 30%.

That is, I think, on a lower side, although our endeavor is still to improve that, and it is improving also, but not to that levels.

I'll add to this. Your question is why it got reduced.

You must agree with us that whenever there is a policy rate cut, that has to be passed on to RLLR-linked loan immediately, and my 49% of the portfolio is RLLR linked, whereas deposit repricing takes minimum 6 months, 6 months to 1 year. That is, to answer your question, that is the reason for reduction.

That is the main reason for the compression that you see, and I think that will continue till that rate cut stabilizes. To some extent, that challenge will continue for I suppose lenders like us.

Sure. Sir, my last question is, how are you looking at deposit growth, right?

While this quarter did have the benefit of CRR, it has been kind of lagging. How do we kind of plan to ramp this up to meet our guidance on loan growth?

See, our deposit is growing at 12.95% against the guidance given 9 to 10%. Going ahead also, we will continue with the same performance for the last quarter also.

Just a bookkeeping one, there is a restatement in deposits for September. Anything to read into it, and what has been reclassified?

Sir, there was a RBI observation that overseas branches, the deposits taken from bank earlier were considered as deposits, now we have reclassified as borrowings. Subsequently, we have changed in other previous quarters also, that effect has been changed.

So 33

33,000 reclassification has been done. Has been reduced, and it ranges from 23,000 from December '24 in subsequent quarters.

Accordingly, in the December, 33,000 has been reduced.

Understood. Thank you so much.

Thank you.

Yes, sir. Total slippage is 1,857 crores.

789 is from agriculture sector, 739 is from MSME, retail 294, and 35 is from gold. No corporate account has slipped.

Sir.

Sir, congratulations to team Canara for excellent performance.

Thank you, sir. Thank you, Choksey sir.

Majority of my questions are answered, sir. What is our digital spend because we are focusing on RAM and enhancing our business?

What is our cost for human resource which we are going to incur for enabling technology as well as new initiatives?

Sir, our staff cost is now stabilizing as 4,900 crores. Efforts are being taken to continuously upskill our staff.

There we have our definite expenditure, and we see that entire staff undergo training. Last year also, entire staff underwent training as per their KRIs so that their performance improves.

Sir, are we spending on enhancing the current management as well as top management and other staff members' capability because tomorrow AI will be there, many other technology initiatives, new product initiatives? What is our digital spend for all these initiative and additional incentive and other focus costs?

This is your regular staff expense. I'm saying over and above, what do we

do that? Sir, we are conscious that what our future workforce will look alike.

Accordingly, we have recruited data scientists, your Python engineers and all for AI capabilities and all. A vertical has been created separately for AI, which is working on identification of use cases that can be implemented in the bank.

Already under fraud prevention and default prediction, AI is implemented to some extent. You will see more and more use cases coming up.

Further also, we will enhance the capabilities of our employees and under training. Yeah.

There are a lot of products, sir, we have introduced. One is our business around has now been nominated to be adopted across industry.

We have a dedicated business analytics team. That works for lead generations within the system.

Sir,

secondly, your total digital spend for the year, the budget for the total spend which you're going to do on digital, and what is your future outlook on that?

Around 1,000 crores we are spending, sir, annually on digital initiatives.

For last 3 years, sir, we have been spending around 1,000 crore, between 800 to 1,000 every year. I think this year also, we should be able to reap the benefits now.

I think now it is the time to reap the benefit. AMC charges and all will go up, but as sir said, AI-related we have established a department where we need both from people's side and technology side some investment will go going forward.

Sir, as we have three other listed companies under our fold, in the cross-selling of business as well as for touch points, how are we benefiting, and if we are able to succeed, how many products are we selling to our existing customers?

No, for our Canara Robeco and Canara HSBC, including the Can Fin Homes, two of our subsidiaries, no? We are getting substantial benefit out of this.

Insurance company, in the previous NFO what we have launched, against the target of 500, we have reaped some 6,050 crore in 15 days the room what was given to the this, no? We are valuing this subsidiary, and we are enhancing the value for the customers by cross-selling.

Whether it is the Canara Robeco SIPs or mutual fund selling or it is the insurance what we are selling through our branches, 10,066 branches, we are getting substantial benefit out of these two subsidiaries by cross-selling in a large scale. Our company is also benefited, and we are earning close to five 500 crore income out of this subsidiaries by selling their products.

Sir, 500 crores income, but do you mean to say that majority of our CASA customers are taking two products from us, three products from Let's say I'm a CASA account, is the car loan coming to you? Is it

Yes, sir. Yes.

Sir, that is what I wanted to say. Apart from car loan and housing loan, we are also selling credit card.

We are selling the other product. The demat account we are selling to them.

We are giving so much of benefit by way of this, engaging with them, sir.

Sir, we have a business analytics wing, and that is responsible for creation of leads. They have certain machine learning models, and they scrub the data, and accordingly they suggest a person how many products we can sell to him.

Whenever a customer approaches the counter, they have this opportunity, what other products can be sold to this customer. Leads are generating from our customer relationship models and leads generating through our own machine learning models.

That conversion rate is also very high. That is why you're seeing that our credit growth in RAM sector is 13.5%.

Sir, my last question in this round is, sir, the market is favoring PSU banks over and all other sectors, including private banks. We are showing healthy profits.

For a nominal growth which we are doing, we may not need equity. If the market is rewarding in the past, we had capitalized ourselves by doing QIPs ahead of time.

Do we plan something in this quarter or coming time, or we look into it at a future date?

QIP, I don't think QIP is now lined up apart from

Choksey ji, as and you have seen that my capital adequacy is already at 16.5. We are adding around 17 to 20,000 profit per annum.

As of now, we are adequately capitalized to do business, to have a double-digit growth going forward next couple of years. If, as and when, any moment it is required, I don't see a challenge raising it.

In the immediate future, I don't think bank will require that.

Basically self-reliance is going to work in your growth machine. That's your summation.

Exactly, sir. Strongly it should work in our

Right now, on business growth front, on profitability front, capital adequacy front, asset quality front, bank is doing extremely good in all parameters.

Sir, congratulations and best wishes for the years to come.

Thank you, Choksey sir. Thank you.

Thank you.

Can you hear me? Can you hear me, sir?

Yes, sir.

I have only one question. In terms of your growth in advances, if I have written it correctly, you're advising 13% growth in your credit growth for the next year.

Which are the top five areas of growth that you see for yourself, and what are the yields on those advances?

Sir, RAM sector is the strength, which is growing at 18.70% and where the yield is also 8.88%. Under MSME also, if you see, we are growing at 13.74%, and the yield on such advances is 9.28%.

Gold is also growing at 30%, where the yield is around 9%. Apart from that, we are generating income through PSLCs.

The surplus priority sector that we have. These are strength areas of the bank and the written-off recoveries also.

That we will continue, sir. Okay.

Sure. Noted that.

My second and the last question is that you said the NIM range would be around 2.45 to 2.5%, as you said in the beginning. Any scope for improvement over there over the next 1 or 2 years?

Is there any such deliberation internally happening to make it a 2.6 to 2.7% range?

Sir, definitely yes, that will happen as the rate cycle effect settle down. Because now there is always a time lag on passing on the RLLR-based loans and the deposit repricing.

Once that stabilizes automatically, 15, 20 basis point will immediately rise across lenders. We should be no exception.

It should be more in fact.

All right. Noted that.

Thank you very much, and all the best to you.

Thank you. We'll

Hello? Yes, sir.

Sir, my question is on ECL, sir. Sir, are you doing any ECL provisions, or what is the total number of ECL provisions from 1st April 2027 that you will be doing?

It is, as our MD said, it will be less than five digit the number, and it is, as if one side it is less than five-digit number, it has one more year to get implemented. In a year, we will add minimum between 17 to 20,000 crore of profit.

My provision coverage will be all-time high of over 95%. The requirement of ECL by the time it gets implemented will further come down from that five-digit figure to a much lower figure.

Even if we implement, as we said in the past, my CRAR and CET1 will get affected by only a percentage point. That means even then my CRAR will be at above 15, and CET1 will be above 12 above 11.

This is if we implement in one go, but as we understand, RBI has allowed it to be spread across 4 years. It has got almost no effect, and we will be able to maintain.

ECL differently will have no impact, sir. It is the release of funds that has happened on account of this CRR cut over during September and November, that itself has cushioned all that, sir.

I think there is no effect on this. Across banks, I don't see if there will be much effect.

Sir. I got your point.

Your peer bank are doing the ECL provisions like PNB has done. I'm just asking, are you doing any ECL provisions in these quarters, or you are doing just in a one go?

Sir, we feel we don't need to do any preemptive provision before that. My quarterly profits will be sufficient at any point in time to absorb that without hindering business growth and capital position.

Okay.

Okay. Thank you, sir.

Thank you.

Sir, I have already said, it is a strong numbers, be it business growth, be it asset quality, be it profitability, operating profit, net profit, and capital adequacy. I don't see any reason that this growth will not continue.

It will continue in the last quarter also. Thank you, sir.

Thank you.