Canara Bank share price (NSE: CANBK) touched a multi-year high of ₹150.35 on Monday, rising 3% in intraday trade. This is the bank’s highest level since January 2011, and it is now getting closer to its record high of ₹164.19, reached on November 9, 2010.

Over the last 1 month, the stock has jumped 20%, far outperforming the BSE Sensex, which gained less than 1%. Since the start of 2025, the stock has surged 50%, compared to an 8% rise in the benchmark index.

What’s Driving the Rally?

Strong Business Growth

As of September 30, 2025, Canara Bank’s total business reached ₹26.79 trillion, with:

• Deposits: ₹15.28 trillion
• Gross advances: ₹11.51 trillion

This makes it the fourth-largest public sector bank in India.

Subsidiary Stake Sale Boosts Balance Sheet

In October 2025, the bank reduced its stake in:

• Canara HSBC Life: from 51% to 36.5%
• Canara Robeco AMC: from 51% to 38%

These stake sales together brought in about ₹2,150 crore, and both entities are now classified as associates.

Canara Bank Financial Performance 

Q2 FY26 Profit Jumps 19%

For the July–September 2025 quarter, Canara Bank reported a net profit of ₹4,774 crore, a 19% YoY increase.

Asset Quality Improves

The bank showed notable improvement:

• Gross NPA: 2.35% (down 138 bps YoY)
• Net NPA: 0.54% (down 45 bps YoY)

This indicates better loan recovery and lower stress.

Management shared that out of 13 performance targets, the bank has already met 11. The remaining two, CASA ratio and Net Interest Margin (NIM), are still being worked on. CASA has shown improvement, but NIM remains challenging.

Read more: Infosys Buyback: How Much Tax Will You Pay on The Buyback Amount?

Conclusion

Canara Bank’s sharp rise to a 15-year high reflects strong investor confidence. With robust business growth, rising profits, and improved asset quality, the bank is well-positioned for further gains. Continued focus on credit quality, capital strength, and subsidiary monetisation could help the stock inch closer to its all-time high.

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