Canara Bank — Q4 FY26

CANBK Q4 25/26 Earnings Conference Call https://stockanalysis.com/quote/nse/CANBK/transcripts/452953-q4-25-26/ Published: sourced from public earnings transcript

Operator Good evening, everyone. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Yeah, please. Operator We welcome Canara Bank's Q4 FY 2026 earnings conference call. I would like to thank the Canara Bank management team for giving us the opportunity to host this call. From the management side, we have with us Shri Hardeep Singh Ahluwalia, MD and CEO. Shri Bhavendra Kumar, Executive Director. Shri S. K. Majumdar, sir, Executive Director, and Shri Sunil Kumar Chugh, Executive Director. With this, I now hand over the call to MD, sir, for his opening remarks, post which we will start the Q&A session. Thank you, and over to you, sir. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Good evening to all. Let me first share the highlights of Canara Bank results. Our global business stood at INR 28.0 lakh crore, and it grew by 12.11%. Our global deposits grew by 9.71% and stood at INR 15.68 lakh crore. Our global advances grew by 15.30% and stood at INR 12.37 lakh crore. Net interest income for the quarter was INR 9,808 crore. It grew by 3.88% YoY. Our operating profit for the full year is INR 33,019 crore, and it grew by 5.19%. Our net profit for entire year was INR 19,187 crore, and it grew by 12.69%. Our provision coverage ratio improved by 151 basis points and stood at 94.21%. Our credit cost, it reduced by 33 basis points and stood at 0.59%. Our GNPA for the entire year, there was a YoY decline of 110 basis points. It stood at 1.84%. Our net NPA, there was a decline of 27 basis points year-on-year and stood at 0.43%. We are proposing a dividend of 210% of paid-up capital. Our share price is 2, the proposed dividend is INR 4.20 per share. Our the credit your advances growth was led by RAM credit. The RAM credit grew by 19.73% and stood at INR 7.330 lakh crore. Retail credit grew by 32.93% and stood at INR 22.96 lakh crore. Housing loan grew by 17.55% and stood at INR 1.24 lakh crore. Vehicle loan grew by 26.33% and stood at INR 26,070 crores. MSME credit grew by 12.85% and stood at INR 1.57 lakh crores. Our earnings per share improved by 12.68% and is at INR 21.15. Our CRAR improved by 71 basis points and stood at 17.04%. Our slippage ratio 12-month is 0.69, which declined by 21 basis points. These are the all key highlights of our performance. Joining me is Shri Bhavinder Kumar ji, Shri S.K. Majumdar sahib, Shri Sunil Kumar Chugh sahib, and all my vertical heads to take all your queries and answers. Thank you. Operator Thank you. We will now start the question and answer session. Participants who have a question, please raise your hand. The first question is from the line of Mr. Ashok Ajmera. Thank you, and over to you, sir. Ashok Ajmera Chairman and Managing Director, Ajcon Global Services Yeah, good evening, sir. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Good evening, Ajmera Sahib. Ashok Ajmera Chairman and Managing Director, Ajcon Global Services Ahluwalia Sahib. As far as the business is concerned, the business growth is good. I mean, especially if you look at the credit growth, you're growing in this quarter also by 3.79% or 3.80% and overall for the whole year 15.30%. On the business front, there is no concern. I mean, you are growing well, much above the targets which you had given. Sir, however, this, there is a pressure on the profitability in the bank. I mean, both the operating profit and net profit has gone down, which is generally not seen in the other peer four, five banks of your size, that the operating profit has gone down by INR 2,361 crore as compared to the last quarter only. Where I can understand in which there must be some gain of that HSBC, Canara at the treasury front. Still, the treasury income also has gone down even comparatively also, if you net it out from INR 1,050 crore to INR 272 crore. The recovery from the return of account also, which generally should be better in the March quarter, has also gone down to INR 1,646 crore against INR 2,051 crore in the last quarter. Sir, on the profitability front, and that has resulted in a much lower NIM than the expected and the target also, I think your quarterly NIM was 2.54% and the overall annual NIM is 2.51%. On that, I mean, is there something special which has resulted in this lower profitability in the bank, and coming forward those issues may not be there? How do we see the now coming quarter and the coming year now in view of these results? Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Ajmera sir, if you see that our NIM improved 9 basis points. Ashok Ajmera Chairman and Managing Director, Ajcon Global Services No, that is- Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Our NIM Net interest income it improved to INR 549 crore. If you compare our peer banks, our NIM has improved, our net interest income has improved. Only, as rightly pointed, why there is a drop in operating profit and net profit by INR 2,300 crore. Sir, last quarter, we had listing gains from Canara HSBC. Ashok Ajmera Chairman and Managing Director, Ajcon Global Services Yeah Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank and Canara Robeco of INR 1,930 crores. That was substantial enough. Secondly, due to geopolitical situation, the bond yields moved from 6.59 to 7.05. The share market corrected by 4,000 basis points. This has resulted into MTM losses of INR 800 crores. Ashok Ajmera Chairman and Managing Director, Ajcon Global Services Okay. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank This may not be going ahead for the quarter. This may not be there in the June quarter. The one-time listing gains were factored in the last quarter of INR 1,930 crores. Ashok Ajmera Chairman and Managing Director, Ajcon Global Services So- Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank And, and regarding- Ashok Ajmera Chairman and Managing Director, Ajcon Global Services Yeah Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank regarding the TWO recovery. Ashok Ajmera Chairman and Managing Director, Ajcon Global Services Yeah Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank our TWO recovery hovers around INR 1,500 crore-INR 1,600 crore. If you see last year, for the full financial year, the TWO recovery was INR 6,800 crore, and in this financial year, it is INR 6,500 crore. there, in the total TWO recovery. Ashok Ajmera Chairman and Managing Director, Ajcon Global Services Yeah Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank There is no substantial dip, but only some high ticket resolutions come in a particular quarter. Normally, it hovers around INR 1,500 crores-INR 1,600 crores per quarter. Ashok Ajmera Chairman and Managing Director, Ajcon Global Services Now, sir, yeah, point well taken, sir. Even I had analyzed it, that there was some additional profit in the last quarter because of those two listing gains. Having said that, sir, now this two things have are clear now. The RBI has given the clear guideline for the ECL. On that now, as far as the provisions are concerned, how much buffer provisions to take care of that, or the planned provisions which we already have in our books, and how do we plan to meet now going forward the provisioning norms as per the final guidelines given by RBI? Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Sir, if you see that, our SMA is best in the industry. It is only 2.75%. Ashok Ajmera Chairman and Managing Director, Ajcon Global Services Yes, yes. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank While the advances is going up, in absolute numbers our SMA is coming down. In the December 25, our SMA book was INR 35,000 crore. Now it is INR 33,728 crore. Although the advances is going up, our SMA is coming down. Now coming to the ECL part. Now, sir, on ECL front, stage one and stage three, both are almost at par with the IRAC norms. Our PCR is 94.20%. For stage two it is adequate enough. For stage one, it is at par with IRAC norms. Only at stage two. We see that in stage two, the regulatory floor has been moved from 0.4% to 5%. Ashok Ajmera Chairman and Managing Director, Ajcon Global Services Yeah. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Some additional provision will be required, and we presume it will be INR 2,500 crores. The probability of default in stage one, stage two and stage three will be additional INR 2,500 or maybe it may range up to INR 5,000 also. Additional non-fund requirement will be INR 2,500. Total requirement will be INR 10,000. It can be staggered to four years. Our profit is in the range of INR 19,000-INR 20,000 crores. Bank is in a very, very good position to absorb the entire in the first go itself. If we absorb in the first go itself, then there will be a drop of 1% in the CRAR. Bank is adequately capitalized. Our CRR is 17.04%, much above the regulatory limit. Ashok Ajmera Chairman and Managing Director, Ajcon Global Services Yes, sir. You are well prepared for that. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Yeah Ashok Ajmera Chairman and Managing Director, Ajcon Global Services sir, now, going forward, the government has also announced, because you also referred that there is some geopolitical situation, which is, I mean, which is building up now in the pressure. In fact, in the March, the effect might not have been seen, because of the recession, this recession war also. Now I think you must have started feeling the heat. Government is equally, you know, being a proactive measure, has announced ECLGS 5.0, creating a lot of buffer, I mean, INR 2.5 lakh crore of the planned this thing. In our bank, have we calculated that how many customer, I mean, how much amount the customer can use through this line? How are we prepared for that? Will it not add to our credit growth which we already planned? Will it not give a flip to it? Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Sir, we have already. Ashok Ajmera Chairman and Managing Director, Ajcon Global Services Are you feeling any stress already? Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Sir, see, this quarter our slippage was INR 2,771 crores. Ashok Ajmera Chairman and Managing Director, Ajcon Global Services Yes, sir. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Last year in the same quarter it was in the March because we have to compare from the previous March only. Ashok Ajmera Chairman and Managing Director, Ajcon Global Services Okay. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Last year also the slippage was INR 2,702. This year it is INR 2,800 crores roughly. It is in the similar levels. In the March, what happens, sir, some MOCs are because branch audit is conducted across the country. Some MOCs are, we should not compare from the December. We have to compare from March to March. We don't see any stress building as on date because it is almost at par with the previous March. And out of this INR 2,771, INR 1,333 is for MSME. MSME, some slippage has been observed. Ashok Ajmera Chairman and Managing Director, Ajcon Global Services Observed, has been Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Not to that extent. For, coming to your point that ECL 5, bank is already worked on that one. The entire portfolio that is affected is about INR 90,000 crore and, the additional exposure will be around INR 18,000 crore-INR 20,000 crore. Definitely it will give some flip to the advances. Ashok Ajmera Chairman and Managing Director, Ajcon Global Services Going forward, sir, there is no concern according to you and no concern has been, I mean, is building up even in April, May also, because of that war situation. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank No, sir. If you see our slippage ratio is 0.69% and our SMA is 2.75%. Both are industry best actually. As on date, no concerns, and going forward, this ECL 5 will definitely help the affected area. Ashok Ajmera Chairman and Managing Director, Ajcon Global Services All right, sir. Thank you, and all the best. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Thank you. Ashok Ajmera Chairman and Managing Director, Ajcon Global Services I will come back again. Okay, thank you. Operator Thank you, Ashok sir. The next question is from the line of Param Subramanian. Param, you're unmuted, please go ahead with your question. Param Subramanian Analyst, Investec Yeah. Hi, sir. Thanks for taking my question. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Yes, go ahead. Param Subramanian Analyst, Investec Firstly, on the advances growth guidance that you've given of 11%-12%, we have closed this year with 15+ . Any reason we are calling for a moderation in the credit growth next year? Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank No, sir. Actually, Bank has a tradition of giving some conservative numbers because GDP growth is projected at 6.9%. We have seen what earlier guidance has been given by us, and accordingly it has been projected. I am confident that Bank will end up much above the guidance numbers as it ended up in this financial year. Param Subramanian Analyst, Investec Perfect, sir. Very useful. Secondly, on the PSLC, some of the private banks are, you know, they are facing issues on their PSL compliance. Would it be fair to assume next year our PSLC income will be higher than this year? Any comment you can give on that? Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank PSLC, sir, continuously our PSLC income is around INR 2,500 crore we derive that income. This year also we are confident that we will derive this PSLC income. We are above in priority sector credit, we are exceeding all mandated norms. Definitely we will gain advantage out of selling the PSLCs. Param Subramanian Analyst, Investec Sir, it should be similar to FY 2026 next year? Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Yes, sir. Yes. Param Subramanian Analyst, Investec Or- Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Yes. Param Subramanian Analyst, Investec Okay, okay. Okay, sir. Sir, the comment you made on ECL, I understood the one-time impact, but on the run rate impact of how much it can affect your, say, credit costs on a run rate basis. If you could speak a bit about that, say, from FY 2028, and whether your bank can still sustain 1% plus ROA even after implementing ECL on a run rate basis. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Sir, our credit cost is continuously coming down. That is because our SMA in absolute number is coming down. Param Subramanian Analyst, Investec Yeah. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank If you see that, the SMA from 3% it has come down to 2.75%. Slippage will be hovering around this range only. We don't see any threat in coming up. Param Subramanian Analyst, Investec Sir, even after implementation of ECL, you think you can maintain similar credit cost guidance on a run rate basis? Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank I presume that we will maintain this. Param Subramanian Analyst, Investec Okay, sir. Okay. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Our SMA levels have come down substantially. Param Subramanian Analyst, Investec Yeah, fair enough. We can see that, sir. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank SMA in December, in absolute terms it was, the outstanding was INR 35,604. This year it is INR 33,000. In March, this is INR 33,728. Although my credit is growing at 15%, and if you compare from last March, last March 2025, my SMA book was INR 40,481. Now it has come down to INR 33,728. Param Subramanian Analyst, Investec Yeah. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank I am confident that I'll be able to maintain this slippage numbers and credit cost. Param Subramanian Analyst, Investec Okay, sir. Sir, one last question, sir, on NIM. You have given your guidance, but, will you have passed through the entire December rate cut? From here, how do you expect margins to trend, say, from first quarter onwards? Because your guidance- Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Sir- Param Subramanian Analyst, Investec is 2.5-2.6 here. On a, say, trajectory basis, if you could. Yeah. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Sir, you see in this quarter our NIM improvement was 9 basis point. Our credit growth is very high at 15.30, that places us uniquely to negotiate on pricing. We are not entertaining low yield advances. We are capitalizing on expanding RAM credit, and we are very conscious on bulk deposits, pricing of bulk deposits. The combined effect, our NIM has taken a uptick of 9 basis point on this quarter and 1 basis point cumulative. Param Subramanian Analyst, Investec Perfect, sir. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank We presume that it will hover around 2.5%-2.60%. Param Subramanian Analyst, Investec Very useful, sir. Just your LCR number, if you can share. That's my last question, for this quarter. LCR. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank LCR was 118%. It is much above the regulatory level of 100%. Param Subramanian Analyst, Investec Okay, sir. Thank you so much, and congrats on the performance. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Thank you, sir. Operator Thank you, Param. The next question is from the line of Jai Mundhra. Jay, you are unmuted, you can go ahead with your question. Jai Prakash Mundhra Analyst, ICICI Securities Hello. Operator Jai Prakash Mundhra, are you there? Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Yes, Mundhra, sir. Namaskar. Jai Prakash Mundhra Analyst, ICICI Securities Namaste, sir. Hi. Sir, a couple of questions, sir. First, just a clarification, sir. On gold loan, how much is the total gold loan outstanding in retail and in agri and non-agri? Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Sir, my gold loan portfolio is INR 2,45,000 crores. Jai Prakash Mundhra Analyst, ICICI Securities Okay. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Out of which agriculture is INR 1.454 lakh crores. The remaining non-agri is INR 91,000. Jai Prakash Mundhra Analyst, ICICI Securities Right. Okay. Okay. That is good. That has also grown, right? Last quarter it was, I think, INR 2.2 trillion. It has now become INR 2.545 lakh crore, right? The gold portfolio, even on a QoQ basis, is growing at a recent pace. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Yes, sir. Yes, sir. Jai Prakash Mundhra Analyst, ICICI Securities Sir, going ahead, do you see that now this is at 20% of the overall loans, would you believe the growth here to be single digit, or you believe it will still be in double digit, even though it moderates? How? Is there any thoughts there? Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Sir, it will be in double digit because traditionally our number of branches are high in South India, sir. Here people don't place on deposits. That is why we are lacking. On one side, we are struggling on CASA, but on asset side, we have this advantage of gold loans. People are more comfortable going to branches availing this gold loan. That is why we are confident that it will grow with the same pace. Jai Prakash Mundhra Analyst, ICICI Securities All right. Okay. Sure, sir. Sir, on ECL, right, you mentioned that, you know, SMA 1 I mean, total SMA you have given, but if you have the numbers separately for 0, 1, and 2, I think that will be useful. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Yeah Jai Prakash Mundhra Analyst, ICICI Securities one, and two together. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank SMA 0 is 10,961. SMA 2 is 9,732 only. SMA 1 is 13,035. The total is 33,728. Jai Prakash Mundhra Analyst, ICICI Securities SMA 0, INR 10,000. SMA 1, also around INR 11,000. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank INR 30,000. Jai Prakash Mundhra Analyst, ICICI Securities INR 900 only. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank SMA one, INR 13,000. Jai Prakash Mundhra Analyst, ICICI Securities Okay. Right. Okay. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank SMA zero is INR 11,000. Jai Prakash Mundhra Analyst, ICICI Securities Right, sir. Sir, on your provisioning, right? ECL and provisioning, I think few banks, they have said that they want to raise capital, maybe for ECL, because asset quality across banks have been, you know, much strong and there is a strong growth in regulatory capital also. Your thought process, sir, if ECL, like you mentioned, 100 basis points impact, which seems very moderate, even if, because you also have five years. Any thoughts on capital raise or any need for that, sir? Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Sir, our profit ranges between INR 19,000 crore-INR 20,000 crore in. This will continue, I think, for the next year also. If the need be, if need required, we will go for capital raising. Since it has not moved to the board, once board permissions, then I'll share it with you. I think within couple of months, we will share that number with you. Jai Prakash Mundhra Analyst, ICICI Securities Okay. Sure. Lastly, sir, on your NIM question, like you mentioned, a stable NIM guidance going ahead. Sir, you also raised TD rates in the month of December and January by around 30-35 basis points. Right. How should one look at cost of a term deposit or cost of deposit on a blended basis? Do you think that cost of deposit now has bottomed and, even including Q1 FY 2027, this should start inching up? Or you think that. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank So we are- Jai Prakash Mundhra Analyst, ICICI Securities the blended cost will still decline? Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Sir, we are very conscious on pricing on bulk deposits and CD. We work on the blended model only, and we are very conscious what is the rate of inflow and what is the rate of outgo. Margins we keep always in mind while quoting price. That is how our NIMs have improved in this quarter. Jai Prakash Mundhra Analyst, ICICI Securities No, no, sir. Going ahead, do you think, because we raised, not all banks have raised term deposit rates. We did in December by around 35 basis points. I wanted to check, sir, has the cost of deposit bottomed out? You think because select maturity only have raised interest rate, but you may still gain on bulk or otherwise. How to look at the incremental, sorry, the blended cost of deposit? Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Sir, why we had raised, because our retail term deposit, even after raising, was much cheaper than the bulk deposit rate. Jai Prakash Mundhra Analyst, ICICI Securities Okay. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank The idea behind to have a more flow in retail term deposit rather than bulk deposit. That is what exactly has happened in the fourth quarter, which benefited us. Our cost of deposit has substantially came down, if you see. Jai Prakash Mundhra Analyst, ICICI Securities Right. Right. Okay. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank That is why you see. Jai Prakash Mundhra Analyst, ICICI Securities All right, sir. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank That is why you can see the fantastic impact on net interest income of INR 549 crores. You can compare with peer banks. Ours is much better. Jai Prakash Mundhra Analyst, ICICI Securities Correct. No, sir. Absolutely. That is much better. Sir, I just wanted to check two things since you mentioned peer banks. If you have the number of, you know, corporate loans or the overall loans which are linked to T-bills, that is one. Sir, we have a TWO recovery of around INR 6,500 crore this quarter, this year, full, as a full year. If you have any number which goes to NII line item out of this, NPA recovery. Because that NII may not grow as much as the loan growth, right? Because the TWO recovery. Three things, one TWO recovery outlook. Number two, TWO recovery that goes to NII line item. C, the T-bill linked corporate loans. Thank you. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Sir, in TWO, your interest income on your TWO advances. It ranges about INR 350 crores- INR 400 crores. Almost it contributes to every quarter, this interest income is contributed. We are confident going ahead it will continue, sir. Jai Prakash Mundhra Analyst, ICICI Securities Okay. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank TWO recovery also, it hovers around INR 1,500 crores-INR 1,600 crores in a quarter. That may vary because of one big ticket resolution. If you see for the FY 2025, it was INR 6,800 crores, and this year it is INR 6,500 crores. Almost at same level. It will continue. This will also continue. Jai Prakash Mundhra Analyst, ICICI Securities Sure. Sure. All right, sir. Sir, T-bill number if you have? Operator Sir, chair, we request you to come back to the queue for the remaining questions. Jai Prakash Mundhra Analyst, ICICI Securities Thank you, sir. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank No problem. Jai Prakash Mundhra Analyst, ICICI Securities Okay. Operator The next question is from the line of Mahrukh Adajania. Mahrukh, your line is unmuted. You can proceed with your question. Mahrukh Adajania Analyst, Nuvama Wealth Management Hello? Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Yeah. Mahrukh Adajania Analyst, Nuvama Wealth Management Hello. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Good evening, good evening, madam. Mahrukh Adajania Analyst, Nuvama Wealth Management Yes. Good evening, sir. Can you hear me? Yes. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Yes. Yes. Mahrukh Adajania Analyst, Nuvama Wealth Management Sir, I had a question. If your cost of funding, you know, you're confident about your cost of funds and the balance sheet is in a good shape, why is your loan growth guidance not as good as other banks? Other banks are giving a much higher guidance. What is the constraint here? Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank There is no constraint. We see that GDP projection is at 6.9%, so accordingly we project. We see last historically what we have given the guidance. Although we have surpassed these numbers and also we are confident that we will surpass it again. The basis has been this only. The GDP growth projection and the past historically how much guidance we have given in the last three years. That forms the basis of giving the guidance. Mahrukh Adajania Analyst, Nuvama Wealth Management Okay, sir. Got it. Sir, coming back to ECL, Is there any way to find out what will be the run rate impact? On an ongoing basis every year, how much will ECL add to the credit cost? Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank That we have not worked it out because it is a forward-looking provision, so that probability of default of any loan for the next year. We have roped in our knowledge partner, EY, and the system level implementation will take place in September. Roughly we have calculated that the impact will be about INR 10,000 crore, and looking at our profits, we can absorb in one go. There is a provision that we can absorb in four years. Bank is very, very comfortable on ECL front. Mahrukh Adajania Analyst, Nuvama Wealth Management Okay, sir. Thank you. Thank you, sir. Thank you. Operator Thank you, Mahrukh. The next question is from the line of Suraj Das. Suraj, your line is unmuted. You can proceed with your question. Suraj Das Analyst, B&K Securities Yeah. Hi, sir. Thanks for the opportunity. two, three question. First, on the gold loan, while you highlighted that the retail gold loan is growing, it seems like your agri gold loan is not growing for last, two, three, four quarters almost. Last quarter it was INR 1.5 lakh crore. It seems like this quarter is also INR 1.54 lakh crore, and in the beginning of the year I think it was INR 1.4 lakh crore. Any challenges there, sir? Or it has to do anything with the RBI revised guidelines or something like that? So. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank My colleague Bhavendra Kumar will answer this. Bhavendra Kumar Executive Director, Canara Bank No, no, actually, our figure is INR 2.4 lakh crore. It's not that we have not been growing in the last two or three quarters. With the aftermath of RBI direction, we have changed certain this, you know, restricted customers, how they can engage with the branches with the income numbers. Because of that little slowness is there, but not that we have consciously taken anything in that direction to stop. Nothing is there because our retail portfolio is growing as it was growing earlier. From April 1st. Suraj Das Analyst, B&K Securities No, sir, my question is on. Bhavendra Kumar Executive Director, Canara Bank Yeah Suraj Das Analyst, B&K Securities agri gold only. On agri gold only. Bhavendra Kumar Executive Director, Canara Bank That is there. That is there. Suraj Das Analyst, B&K Securities Last quarter it was INR 1.5 lakh crore . In the beginning of the year it was INR 1.4 lakh crore . Sunil Kumar Chugh Executive Director, Canara Bank No. Shall I say, if you see that whatever loss you are seeing in agri is compensated in retail. Bhavendra Kumar Executive Director, Canara Bank Retail, yes. Sunil Kumar Chugh Executive Director, Canara Bank It is a deliberate attempt of the bank. If you see in other than rural, that is semi-urban and urban, we are most- Bhavendra Kumar Executive Director, Canara Bank 50%. In rural also we are growing at 14.91%. 48%. That is there. Sunil Kumar Chugh Executive Director, Canara Bank No, no. That in these areas we are giving only retail. If you see overall, you have to read both put together. Bhavendra Kumar Executive Director, Canara Bank Correct. Yes. Sunil Kumar Chugh Executive Director, Canara Bank You are seeing in one side agriculture is showing a slower growth, but retail is taking up its place. Bhavendra Kumar Executive Director, Canara Bank Like, exponentially, yeah. Sunil Kumar Chugh Executive Director, Canara Bank It is both combined, the growth remains constant. Bhavendra Kumar Executive Director, Canara Bank Sure. Sunil Kumar Chugh Executive Director, Canara Bank You should not look at it in isolation. It should look at combined portfolio in compliance with RBI guidelines. This is mostly in compliance with RBI guidelines. Uh, revise this- Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Gold loan portfolio is growing at 33%-34%. S. K. Majumdar Executive Director, Canara Bank Four, yes. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank of which the agri gold portfolio is growing at around 15%. We have to comply with all RBI guidelines also. I presume that it will go in the same manner. Suraj Das Analyst, B&K Securities Sure, sir. I'll probably reach out separately for any further clarification. Sir, two last question. One on the current account. I think the growth has been, you know, a sharp negative number. Any reason for that? Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank There were four accounts which were having big ticket four accounts. I cannot name that. That is causing the variation in current account. Apart from that, current account is growing at a healthy pace. Suraj Das Analyst, B&K Securities Sure. Sir, last question. If you can give your stage one, two, and three provision as per the IRAC norm, whatever you are holding currently in absolute terms. Roughly, rough ballpark figure will do. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank ECL, you are talking about ECL provision? Suraj Das Analyst, B&K Securities Right. ECL provision. I think you said in the opening commentary that stage one you are adequately provided. Stage two is where you, need some, you know, buffer provision. Stage three also you are adequately provided. I just wanted to check the absolute number if it is readily available. Else, I can reach out separately. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Sir, absolute number can be shared only after the implementation of system. That I can share only after the implementation. Roughly, we have worked around INR 10,000 crore and, we are making a profit of INR 19,000 crore-INR 20,000 crore, and this also can be, staggered for four years. Easily we can absorb entire in the first go itself. Suraj Das Analyst, B&K Securities Sure, sir. Okay. What is your, sir, total standard asset provision number? Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank My standard provision numbers? INR 4,500. Suraj Das Analyst, B&K Securities Thank you so much. That's all. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Apart from that, there are three big ticket accounts which are in SMA, where there's no need for provision, but we have made, as a prudent banker, we have made a provision of INR 1,890 crores in that. Suraj Das Analyst, B&K Securities Okay. Sure. That's all from my side. Operator Thank you, Suraj. The next question is from the line of Gaurav Kochar. Gaurav, your line is unmuted. You can proceed with your question. Gaurav, are you there? All right. Gaurav Kochar Fund Manager, Mirae Asset Mutual Fund Hello, am I audible? Hello? Operator Yes, you are audible. Yes. Gaurav Kochar Fund Manager, Mirae Asset Mutual Fund Yeah, yeah. Yeah. Hi. Operator Audible. Gaurav Kochar Fund Manager, Mirae Asset Mutual Fund Thank you, thank you for the opportunity. I have a couple of questions, sir. First is on the PSLC. Sir, if I look at the, I'm just looking at the small and marginal farmer because I'm assuming that large part of our PSLC come from selling PSLC of small and marginal farmer. If I look at, let's say this year, the excess that we have is about 2.5%. We did about 12.5% versus 10%, which is required. If I look at the same number last year and last to last year, that number was much higher, at 3.4% and 6%. Is it fair to assume that the surplus that you carry this year is slightly lower than what you had last year? Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank No, no. We have worked it out, and this will be at the same level this year also. Gaurav Kochar Fund Manager, Mirae Asset Mutual Fund Okay. Okay. The PSLC income you expect to be similar as last year? Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank INR 6500 crores. Gaurav Kochar Fund Manager, Mirae Asset Mutual Fund Right Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank yearly. Gaurav Kochar Fund Manager, Mirae Asset Mutual Fund INR 6,000, INR 6,005. Okay, got it. INR 6,500. Sir, I think INR 2,600 was the number this year. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank No, it is INR 3,000. It will be around INR 3,000. Gaurav Kochar Fund Manager, Mirae Asset Mutual Fund Okay. Okay. Got it. Got it. Sir, the second question is with respect to the recovery from write-offs. While you valued it to about INR 15 billion-INR 16 billion per quarter sort of a recovery. Let's say in the immediate quarter, do you expect any large ticket account getting recovered, so for, let's say, this Q1 FY 2027, you expect INR 15 billion-INR 16 billion run rate to continue? Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Q1 already we have one big ticket part amount has been recovered. Gaurav Kochar Fund Manager, Mirae Asset Mutual Fund Okay. Okay. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Of 300. We are very confident that this number also we will be achieving this quarter. Gaurav Kochar Fund Manager, Mirae Asset Mutual Fund Understood. Understood. Perfect, sir. That's all from my side. Thank you. Operator Thank you, Gaurav. The next question is from the line of Ashlesh Sonje. Ashlesh, your line is unmuted. You can proceed with your question. Ashlesh Sonje Associate Vice President, Kotak Securities Hi, sir. Good afternoon. Sir, first question is again on gold loans. Wanted to check if you have taken any increase in the pricing on either agri gold loans or retail gold loans over the past, one, two, three quarters? Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank That increase in pricing is factored, but we are very conscious about LTV. We operate well within the LTV ratios prescribed by the regulator. Ashlesh Sonje Associate Vice President, Kotak Securities Okay. Sorry, sir. Let me clarify. The question is about the pricing of the interest rate on gold loans. Has that increased over the last few quarters? Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank No, no. Ashlesh Sonje Associate Vice President, Kotak Securities No. No, we have not increased. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank No, we have not increased. Ashlesh Sonje Associate Vice President, Kotak Securities I thought the price of the gold. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank The LTV ratio, we have kept maximum at. Ashlesh Sonje Associate Vice President, Kotak Securities Pricing on rate of interest. Rate of interest. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Not increased, and LTV also we have kept in check. Ashlesh Sonje Associate Vice President, Kotak Securities Understood. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank 70%. Below 70%. Ashlesh Sonje Associate Vice President, Kotak Securities Sir, would it be fair to say that all the agri loans are largely linked to MCLR and all the retail loans are largely linked to repo? Is that a fair understanding? Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Yes. Yes, yes. Ashlesh Sonje Associate Vice President, Kotak Securities The average yield would be somewhere around 9%, right, on both the portfolios? Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Yes. Near 9%. Ashlesh Sonje Associate Vice President, Kotak Securities Mm-hmm. Near. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Near 9%. Ashlesh Sonje Associate Vice President, Kotak Securities Yes, 9%. Understood. The second one, in the provision line in the P&L, there is a negative provision in the other provision line. Can you explain what that is coming from? Thirdly, if you can also share the segmental breakup of slippage for the quarter. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Provision in the large borrower framework, there is a release as per the RBI guidelines. Some INR 307 crore release is there because it is no more required. That is one of the factor. Ashlesh Sonje Associate Vice President, Kotak Securities If I look at the number, it is close to INR 800 crores. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Earlier, there was 3% prescribed by the additional provision for large borrowers. Now, this has been dispensed by the regulator, so there is a release of INR 307 crores. Ashlesh Sonje Associate Vice President, Kotak Securities Understood, sir. Sir, the negative provision is close to INR 870 crores. That is why I wanted to ask you. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank You see, in standard accounts, also in three big accounts, we were maintaining additional provision. Their balances has gone down. That is why some release is also there. Ashlesh Sonje Associate Vice President, Kotak Securities Understood, sir. If you can also share the segmental breakup of slippages, that would be good. Sir, just lastly, one comment from you. I understand that we'll go through the ECL transition over the next few years. In spite of all of that, you believe the bank can deliver a 1% ROA? Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank I presume yes, bank can deliver that. Although we have kept it at a conservative level, bank can deliver that. That is why we have given it our return on asset more than 1%. Ashlesh Sonje Associate Vice President, Kotak Securities Understood, sir. Perfect. Thank you. Those were all the questions I had. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Thank you. Ashlesh Sonje Associate Vice President, Kotak Securities If you can also share the segmental slippages, that would be helpful. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Segmental, I can tell you, INR 2,771 is the total slippage that has happened in this quarter, out of which INR 1,333 is for MSME. Agriculture is INR 886, corporate INR 80, gold loan INR 41, and retail some INR 431 crores. Ashlesh Sonje Associate Vice President, Kotak Securities Understood, sir. Thank you very much. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Thank you. Operator Thank you, Ashlesh. The next question is from the line of Parth Gutka. Parth, your line is unmuted. You can proceed with your question. Parth, are you there? Parth Gutka Analyst, 360 ONE Capital Hello. Yeah, hello. Can you hear me? Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Yeah, yeah. Good evening, Mr. Parth. Parth Gutka Analyst, 360 ONE Capital Yeah. Hi, sir. Good evening. Thanks a lot for the opportunity, sir. Just, you know, in terms of RAM and corporate mix, we have now, you know, reached 40%, 59% of RAM and, around 41% of corporate. How far, you know, we can increase our RAM mix in the overall loan mix? Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank We endeavor to reach at 60/40. 59% RAM and 40% corporate. Parth Gutka Analyst, 360 ONE Capital Okay, okay. Within the RAM, we will continue to grow the retail segment and, you know, because our agri and MSME has been as a proportion of overall loan has been coming off over the last four quarters. Is that the right understanding, sir? Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Yes, yes. Parth Gutka Analyst, 360 ONE Capital Okay, okay. Thanks a lot, sir. Operator Thank you, Parth. The next question is from the line of Sushil Choksey. Sushil, sir, you can proceed with your question. Sushil Choksey Director and CEO, Indus Equity Advisors Good evening. Congratulations to team Canara for a very stable result. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Good evening, Choksey. Good evening. Sushil Choksey Director and CEO, Indus Equity Advisors Good evening. Sir, looking into FY 2027, can you tell me what is undisbursed credit and how is the corporate pipeline looking when you are guiding at 60% RAM, 40% corporate? RAM will have adequate support coming from government for the new scheme. At the same time, there would be demand. Southern India is seeing a robust demand where manufacturing, GCC and many other sectors are likely to come up. What is the outlook on corporate book? Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Corporate demands are already NBG, that is sanctioned by us. We have to finalize the proposals. That is lined up at around INR 20,000 crore. Another undisbursed corporate is around roughly about INR 20,000 crores. The ECL, we expect that INR 18,000-INR 20,000 to grow. We should make up the guidance number comfortably. Sushil Choksey Director and CEO, Indus Equity Advisors Sir, in data center, are we funding data centers with GPU? Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Yes. Sushil Choksey Director and CEO, Indus Equity Advisors without GPU or with GPU? Sir, how is the pipeline between power sector and data center? Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Data center and power, both we are financing, sir. Sushil Choksey Director and CEO, Indus Equity Advisors No, no, you are financing, I know. How is the pipeline, sir? Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Pipeline also we can share separately with you. We can share that pipe. Sushil Choksey Director and CEO, Indus Equity Advisors Sir, how is the business? Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Right now I don't have breakup of the pipeline. In this, gross numbers I am having. Sushil Choksey Director and CEO, Indus Equity Advisors Sir. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank regarding these two- Sushil Choksey Director and CEO, Indus Equity Advisors Sir, in view of now everything is getting digitized and initiatives, so many other new programs have been done at Canara. How is the cross-sell working? How many touchpoints from each wallet are we doing? What is the digital spend we are likely to do this year? Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank We are very, very conscious about the number of products we can offer to our client. We already have 3,000 customer relationship managers, very, very active on that front. We want to penetrate the customer, not only to the customer, but to the family. Now this year, these customer relationship officers will be penetrating to the entire family, and we have products for that. We will try to have more and more wallet share out of each individual, sir. Regarding digital penetration, sir, we are growing at a very, very handsome growth. For the last year, the number was INR 1,204 crore digital transactions. Prior to that was INR 940 crore. Good, impressive growth has been seen. Our mobile app is ranked number one in Google Play Store, people are accustomed to our app and they are popularizing that. Digital transactions are improving, sir. Sushil Choksey Director and CEO, Indus Equity Advisors Any update on mutual fund and insurance, and the Can Fin Homes? From your side, sir, not that company outlook. That is Canara Robeco and, Okay Any update on Can Fin Homes? Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank They have their own, individual boards, sir. They will be announcing that result separate. Sushil Choksey Director and CEO, Indus Equity Advisors No, no, I understand that. I'm not saying that we are a stakeholder. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Uh- Sushil Choksey Director and CEO, Indus Equity Advisors Every now and then we talk about monetizing that stake. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank So already- Sushil Choksey Director and CEO, Indus Equity Advisors There are a lot of opportunities to combine. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Further dilution we don't foresee, sir. Already 14.5% in Canara HSBC and 13% in Robeco, we have already done that. We have gained some INR 1,920 crores in the previous quarter. Going ahead, we don't foresee any dilutions. Sushil Choksey Director and CEO, Indus Equity Advisors Thank you for answering all my question, and good luck for the year, sir. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Thank you, sir. Thank you, Sushil. Operator Thank you, Sushil, sir. The next question is from the line of Mr. Manish. Manish, your line is unmuted, you can proceed with your question. Manish, are you there? Okay. The next question is from the line of Dixit Doshi. Dixit, your line is unmuted, you can proceed with your question. Dixit Doshi Analyst, White Stone PMS Yeah, can you hear me? Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Yes, Dixit Ji. Dixit Doshi Analyst, White Stone PMS Yeah. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Please go ahead. Dixit Doshi Analyst, White Stone PMS Thank you. Thanks for the opportunity, and congratulations for a decent performance, sir. I have one question. Now, as you have mentioned that we are now 20% of our book is now gold loan. Recently we had some news of, you know, gold loan fraud in April, some media articles. If you can just elaborate a bit that what we are doing to, you know, check that what are the check we do so that these kind of frauds don't happen. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Sir, number of checks we have put in place. One is the entire portfolio of a quarter, whatever we have disbursed, that gets re-, you know, reappraised in the subsequent quarter. For high value gold branches, we place a dedicated officer dealing in gold loans. Third is the security systems we have enhanced. In where gold loans are more, we have kept additional security guard, 24/7 for manning these branches. We have a TRTL safe at all these places for safe upkeeping of gold. Number of checks and balances are there, but one-off incidents keep on occurring. The NPAs are very, very minimal in gold loan. It's a very, very productive product to us. Dixit Doshi Analyst, White Stone PMS Okay. Okay, that's it from me. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank That is insured also. Dixit Doshi Analyst, White Stone PMS Okay. No, the question was, more towards. There are two type of, you know, accident happens. One is that, you know, some theft happens. That's a routine, so it does happen many to anyone. But the other thing, which happens is if somebody, you know, give a fake gold or something like that. What we are doing to avoid that thing? Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank We have panel appraisers in place. Every quarter, the same whatever gold loans we have done, that will be reappraised by a different valuer that will be sent by a regional office. Dixit Doshi Analyst, White Stone PMS Okay. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Regarding spurious gold and all, that will be immediately detected after reappraisal. It goes for reappraisal. Dixit Doshi Analyst, White Stone PMS Okay. Any update you have on the from government side regarding the full-time MD CEO? Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank We are also waiting, sir. Dixit Doshi Analyst, White Stone PMS Okay. Okay. Okay, that's it from my side. Thank you. Operator Thank you. We take one last question, which is from the chat box. Can you explain why the yield on advances declined by only 5 basis points during the quarter in spite of the 25 basis point repo cut impact? Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank 50% of our portfolio is repo linked. If you see in the December, there was a 25% reduction in repo rate. That is why it has impacted. 5 basis point it has come down. Operator Thank you. Speaker 16 May I ask one question, ma'am, if you permit, if the time permits? Operator Yeah, sure. Yes, sir. Yes. Speaker 16 Yeah. Thank you, ma'am. Sir, when we look at our current run rate of operating profits, excluding the provisions and the contingency part, we posted INR 6,700 57 as the precise number. Taking into account the current environment and taking into account the repricing of deposits also, if you could just give us some color whether we can defend this operating profit number going ahead. The other are more variable number depending upon how the market dynamics plays out. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank We are very confident that we will protect because this includes your MTM losses. Very soon some reversal will be seen. Already it is showing in our books. We are very confident that it will be protected going ahead. Speaker 16 Okay. You mentioned that the NIMs trajectory will be 2.5%-2.6%, and the ROA will be in the trajectory of 1%. This is what for the current year looks like. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Yes, sir. Yes, sir. Yes, sir. Speaker 16 The growth in business will be 11% to 12%. That is the advances part, number you have given. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Yes, we are confident of exceeding that. Speaker 16 Okay. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Last year also, if you see, 10%-11% guidance was given, but we ended up at 15.30%. This year also, although it is projected at 11%-12%, we are confident that we will exceed it. Speaker 16 Okay. Last point is, sir, what percentage of our deposits are floating rate linked to the floating rates? They get repriced as soon as there is any change in the interest rate scenario. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Deposit nothing is there. Speaker 16 Didn't get you, sir. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank In deposit, nothing is there which is floating in nature. Speaker 16 Okay. Everything is fixed. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Yeah. Speaker 16 Not fixed rate. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Not. It's the demand. There is two categories. One is demand deposits. What is the term deposit. Term deposits are fixed for that particular tenure. Speaker 16 Correct, sir. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Demand deposits can be withdrawn at the will. Savings and current. Speaker 16 Correct. Correct, sir. Right, sir. Operator Saurabh- Speaker 16 Thank you for Yeah, thank you, madam, and thank you, sir, for answering and hope for further interaction going ahead. Thank you. All the best to the team. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Thank you. Operator Thank you. There is 1 last quick question in the chat box. Please share the number on the stage two provisioning. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank It is yet to be implemented stage two provisioning. Once a system-level implementation takes place, we will share this number. Operator Okay. Speaker 16 Excuse me. Operator Okay. Speaker 16 Do you mind me asking just one question? Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Please. Speaker 16 So, uh, firstly- Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Yes, madam. Speaker 16 While all the indicative parameters have been projected to grow, do you mind going over why earnings per share and return on equity is marked down from the present year numbers? Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Yes, madam. You see, this year we had a gain of INR 1,920 crores from delisting, listing benefits of Canara Robeco and Canara HSBC, where we diluted our share in Canara HSBC 14.5%, in Canara Robeco 13%. This INR 1,913 crores will not be there because it is a one-time income. Next year it won't be there. That is why it has been kept at conservative level. Speaker 16 All right. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank It is at this- Operator Yeah. We take that as the last question for the day. Now hand over the call to the management for closing remarks. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Thank you, madam. All I can say that this year also what we have given the guidance numbers, last year also, apart from two, that is CASA and NIM. We could achieve all the out of 13, we could achieve 11 parameters. Next year also, we are very, very confident whatever guidance has been given, we will try to deliver these numbers. Thank you. Operator Thank you. That concludes the call for the day. Hardeep Singh Ahluwalia Managing Director and CEO, Canara Bank Thank you. Powered by