Regd off: 112, Jayachamarajendra Road, P. B. No.

6618, Bangalore - 560 002

CANARA BANK E-Mail: hosecretarial@canbank.co.in
Web site: www.canarabank.com
Telephone: (080) 2222 1581/82 Fax: (080) 2224 8831
BANKING GOVERNMENT Tr agent: Karvy Computershare, 46, Avenue 4, St. No. 1, Banjara Hills, Hyd. - 34
Chairman: M. B. N. Rao (MD) SEC: S. R. Krishnan AUD: S. N. Mukherji
Yr of Inc B. Code BL. Code F.V. Price % ch 1-m % ch 12-m P/E P/CF Yield Mkt cap Vol. ISIN
1906 532483 CBK:IN 10 228.4 6.7 -8.3 4.4 5.2 3.5 93,623.5 109.2 INE476A01014
SHAREHOLDING FX Transaction (FY08) ADJUSTED DAILY SHARE PRICE DATA
Indian Promoters : 73.2% Exports (fob) Rs m 0 (Rs)
Foreign collaborators : 0.0% Imports (cif) Rs m 0
Indian inst/Mut Fund : 5.9% Fx inflow Rs m 0 430
FIIs/GDR : 13.5% Fx outflow Rs m 0
DAILY
Free float : 7.5% Net fx Rs m 0
Shareholders : 116,268 100 DMA
360
No. of months 12 12 12
Year ending 31/03/06 31/03/07 31/03/08
EQUITY SHARE DATA
290
High Rs 300 319 421
Low Rs 170 165 176
Income per share Rs 213.3 277.6 347.0
Earnings per share Rs 33.6 37.3 43.8 220
Cash flow per share Rs 73.3 78.2 95.9
Dividends per share Rs 6.60 7.00 8.00
Avg Dividend yield % 2.8 2.9 2.7
150
Book value per share Rs 184.7 264.8 261.5
Shares outstanding (eoy) m 410.00 410.00 410.00 Sep-05 Jun-06 Mar-07 Nov-07 Sep-08
Bonus/Rights/Conversions - - -
Avg Price / Income ratio x 1.1 0.9 0.9 No. of months 12 12 12
Avg P/E ratio x 7.0 6.5 6.8 Year ending 31/03/06 31/03/07 31/03/08
CASH FLOW
Avg P/CF ratio x 4.0 3.6 4.3
Avg Price/Bookvalue ratio x 1.3 0.9 1.1 From Operations Rs m 39,420 17,932 22,955
Dividend payout % 19.6 18.8 18.3 From Investments Rs m -1,541 -1,696 -2,746
Avg Mkt Cap Rs m 96,350 99,220 122,385 From Financial Activity Rs m 3,922 19,571 -3,747
No. of employees `000 47 46 45 Net Cashflow Rs m 41,801 35,807 16,461
Total wages & salary Rs m 15,249 16,188 16,822
Avg. income/employee Rs Th 1,865.0 2,455.4 3,143.4 INTERIM RESULTS
Avg. wages/employee Rs Th 325.2 349.2 371.7 2QFY08 3QFY08 4QFY08 1QFY09
Avg. net profit/employee Rs Th 294.2 329.7 396.7 Operating income Rs m 34,826 35,502 37,880 37,305
Gross Profit Rs m 7,869 9,344 9,225 10,191
INCOME DATA Gross profit margin % 22.6 26.3 24.4 27.3
Interest income Rs m 87,457 113,832 142,272 Net profit Rs m 4,016 4,588 4,641 1,227
Other income Rs m 14,086 16,505 24,958 Net profit margin % 11.5 12.9 12.3 3.3
Interest expense Rs m 51,615 73,657 106,895
Net interest income Rs m 35,842 40,175 35,377 KEY DATA
Operating expense Rs m 24,266 26,642 28,716 Parameters Unit FY06 FY07 FY08
Gross profit Rs m 11,576 13,533 6,661 Branches nos. 2,532 2,578 2,675
Gross profit margin % 13.2 11.9 4.7 Employees nos. 46,893 46,359 45,260
Provisions/contingencies Rs m 10,113 12,511 10,741 Business / branch Rs m 819 987 977
Profit before tax Rs m 15,929 17,965 21,418 Profit / employee Rs m 0.3 0.3 0.4
Extraordinary Inc (Exp) Rs m 0 0 0 NIM % 3.0 2.8 2.4
Minority Interest Rs m -42 -47 -65
NOTES
Prior Period Items Rs m 0 0 0
Tax Rs m 2,092 2,635 3,400 Canara Bank is the fourth largest bank in the country in terms of asset size after SBI,
Profit after tax Rs m 13,795 15,283 17,953 ICICI Bank and PNB. The bank had 4.9% share of the total non-food credit and 4.8%
share of the total deposits in the banking sector in FY08. The bank has national
Net profit margin % 15.8 13.4 12.6
presence through 2,678 branches and 2,006 ATMs. As a part of its strategy on loan
BALANCE SHEET DATA growth, Canara Bank is going slow on retail advances (of which 40% are low yielding
mortgage assets) and instead focusing on the SME and corporate segments for
Advances Rs m 800,257 988,949 1,076,171 growth.
Deposits Rs m 1,167,767 1,423,764 1,537,287
Credit/Deposit ratio x 68.5 69.5 70.0 Canara Bank's loan growth moderated to 18% YoY in FY08 as against 25% in FY07.
Yield on advances % 6.9 7.6 9.2 The retail segment, which constituted 17% of the total loans, grew by 10% YoY. The
Cost of deposits % 4.1 4.8 6.5 bank's credit to deposit ratio improved from 69% in FY07 to 70% in FY08. At the end
Net Interest Margin % 3.0 2.8 2.4 of FY08, the bank's CAR (capital adequacy ratio) was 13.3%. At 0.9%, Canara Bank's
Net fixed assets Rs m 7,048 28,762 29,415 return in assets in FY08 was higher than most of the large banks except PNB. FY08
Share capital Rs m 4,100 4,100 4,100 saw further weakening in the bank's net interest margin (2.4% in FY08), the fourth
Free reserves Rs m 39,413 47,183 44,553 year in a row. However, the current and savings account (CASA) comprised 32% of
the bank's total deposits. Canara Bank's CASA per branch of Rs 181 m is amongst
Net worth Rs m 75,746 108,552 107,200
the highest in PSU banks. The bank had gross NPA ratio of 1.3% (1.5% in FY07) and
Borrowings Rs m 5,458 5,683 27,778
net NPA ratio of 0.8% (0.9% in FY07) at the end of FY08. Further, the bank's fee-
Investments Rs m 370,126 452,929 495,977 based income recorded a strong growth of 20% YoY in FY08.
Total assets Rs m 1,337,700 1,665,421 1,809,214
Debt/equity ratio x 15.5 13.2 14.6 Canara Bank is targeting growth rate of 21% YoY in deposits and 20% YoY in
Return on assets % 1.0 0.9 1.0 advances in FY09. It has also taken up a major brand building exercise and
Return on equity % 18.2 14.1 16.7 comprehensive review of its business strategies covering products, processes,
Capital adequacy ratio % 11.2 13.5 13.3 people and its organisation. After creation of JVs in insurance and asset
Net NPAs % 1.1 0.9 0.8 management, the bank is exploring similar options in other financial services.