Rising deposit costs pressuring NIM
Management acknowledged that cost of deposits is rising and NIM may face pressure, though they aim to keep it near 3%.
CANBK / Q3-FY24 / risks
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Canara Bank · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
medium
CASA ratio remains low at 31.65%
CASA growth (5.05% YoY) lags deposit growth (8.55%), impacting funding costs. Management has launched campaigns but no near-term target given.
Potential slippages from MSME and agriculture
Fresh slippages of INR 2,697 crore were largely from MSME (INR 1,200 crore) and agriculture (INR 1,000 crore), which could persist.
Regulatory risk weight increase impact on capital
RBI's higher risk weights on NBFC and personal loans reduced capital by 52 bps; CET1 ratio fell to 15.78% from 16.20%.