Canara Bank raises credit growth guidance

Canara Bank's CEO, Hardeep Singh Ahluwalia, shared good news about the bank's loans.

Loans for buying homes, gold, and small businesses are growing fast.

Retail loans, which include personal and home loans, are growing by 31.37%.

Housing loans are growing by over 17%, and gold loans by 30%.

Small business loans, called MSME loans, are growing by 13.74%.

The bank has raised its credit growth guidance to 13.5% from the earlier 10–11%.

The bank is also preparing for the expected credit loss (ECL) framework and expects to set aside ₹8,000–₹10,000 crore for provisions.

The bank's deposits are growing at a healthy pace, and it is focusing on improving net interest margins.