Canara Bank Share Price Target : 2023 to 2030

Share of Canara Bank is currently trading at around Rs.324/- Existing as well as prospective investors are asking for the Canara Bank Share Price Target from 2023 to 2030. In this article, we will discuss about the business prospects and financial performance of Canara Bank and based on our discussion and analysis will tell you the Canara Bank Share Price Target  from 2023 to 2030.  

Following are the frequently asked questions by the existing as well as prospective investors, about Canara Bank:

• What is the target for Canara Bank share?
• Can Bank share price target 2025?
• Is Canara Bank good to invest?

Discussion & Analysis of Business & Financial performance of Canara Bank :

Canara Bank Limited is one of the largest public sector banks in India, with a strong presence in the banking sector. The bank has been in operation for over a century and has a network of over 10,000 branches and 13,000 ATMs across the country. In this article, we will analyze the financial and business performance of Canara Bank Limited over the past few years.

Financial Performance:

In terms of financial performance, Canara Bank has shown steady growth over the years, with a consistently increasing net profit. In the financial year 2020-21, the bank reported a net profit of Rs. 1,433 crore, which is a significant improvement from the previous year. The bank’s total income in the same period was Rs. 59,325 crore, which is also an improvement from the previous year. The bank’s gross NPA (Non-performing assets) ratio stood at 8.93% in the financial year 2020-21, which is a slight increase from the previous year.

The bank’s asset quality has also improved over the years, with a significant reduction in its net NPA ratio. In the financial year 2020-21, the bank’s net NPA ratio stood at 3.13%, which is a significant improvement from the previous year. The bank’s provision coverage ratio also improved in the same period, which shows that the bank has adequate provisioning for bad loans.

Business Performance:

Canara Bank has a strong presence in the banking sector, with a wide range of products and services. The bank has been expanding its business over the years, with a focus on increasing its retail banking portfolio. The bank’s retail loan portfolio has been growing steadily, with a significant increase in the retail segment’s contribution to the bank’s loan book.

The bank’s business performance has been impacted by the COVID-19 pandemic, like other banks. However, the bank has taken various measures to mitigate the impact of the pandemic on its business. The bank has implemented various cost-cutting measures, such as reducing the number of branches and rationalizing its workforce. The bank has also focused on digitalization to improve its operational efficiency and customer experience.

Canara Bank has also been expanding its international presence, with a focus on the Middle East and Africa region. The bank has opened branches in various countries, such as Bahrain, Tanzania, and South Africa, to expand its business globally. The bank’s international business has been growing steadily, with an increasing contribution to the bank’s total income.

Conclusion:

In conclusion, Canara Bank has shown steady growth in its financial and business performance over the years. The bank’s net profit has been consistently increasing, and its asset quality has also improved. The bank has been expanding its business, with a focus on increasing its retail portfolio and expanding its international presence. The bank has also taken various measures to mitigate the impact of the COVID-19 pandemic on its business. Overall, Canara Bank’s strong financial and business performance makes it a reliable and stable player in the Indian banking sector.

Canara Bank Share Price Target 2023

Based on the above discussion and analysis, the share price of Canara Bank  may touch the level of around Rs.350-375 in 2023.

Canara Bank Share Price Target 2024

Based on the above discussion and analysis, the share price of Canara Bank  is likely to touch the level of around Rs.400-425 in 2024

Canara Bank Share Price Target 2025

Based on the above discussion and analysis, the share price of Canara Bank is likely to remain in the range of Rs.450-475 in 2025.

Canara Bank Share Price Target 2026

Based on the above discussion and analysis, the share price of Canara Bank  may touch the level of around Rs.500-525 in 2026.

Canara Bank Share Price Target 2027

Based on the above discussion and analysis, the share price of Canara Bank  is likely to touch the level of around Rs.550-575 in 2027

Canara Bank Share Price Target 2028

Based on the above discussion and analysis, the share price of Canara Bank  is likely to remain in the range of Rs.600-625 in 2028

Canara Bank  Share Price Target 2029

Based on the above discussion and analysis, the share price of Canara Bank is likely to touch the level of around Rs.650-675 in 2029

Canara Bank Share Price Target 2030

Based on the above discussion and analysis, the share price of Canara Bank is likely to remain in the range of Rs.700-750 in 2030

Disclaimer: Share Prices are subject to market fluctuations and are dependent on several factors. These predictions are based on the current market conditions and the future market expectations. Investors are advised to take into consideration all these factors before making any investment in Capital Market. This article should not be treated as Investment advisory and is for general guidance purpose only. We keep revising our share price targets based on the latest information available with us. Please keep visiting our website regularly to keep yourself updated. MoneyInsight does not offer investment advice and does not encourage any action based on its content.

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