CANBK — Canara Bank to front-load ₹1,500-2,000 crore in expected credit loss provisions

Canara Bank plans to make upfront provisions of ₹1,500 crore to ₹2,000 crore to comply with the upcoming Expected Credit Loss (ECL) framework. By front-loading the provisions, the state-owned lender aims to mitigate the financial impact of the new accounting regime for loan losses. This proactive measure is intended to strengthen the bank's balance sheet ahead of the regulatory transition.