Canara Bank’s net profit rises 3.8 pc to Rs 330 cr in Q3
PTI, Jan 23, 2020, 4:03 PM IST
Bengaluru: State-owned Canara Bank on Thursday, January 23 reported a 3.8 percent rise in its net profit to Rs 329.62 crore in the third quarter of the current financial year, mainly due to a decline in the proportion of bad loans.
The bank’s profit was Rs 317.52 crore during the December 2018 quarter.
Its total income stood at Rs 14,001.63 crore during the quarter ended December 2019, up from Rs 13,513.35 crore in the year-ago period, Canara Bank said in a stock exchange filing.
The net non-performing assets (NPAs) as a percentage of total assets stood at 5.05 percent, down from 6.37 percent a year ago. Similarly, the percentage of gross NPAs also narrowed to 8.36 percent from 10.25 percent.
In absolute terms, the net NPAs stood at Rs 21,337.74 crore, down from 26,591.07 crores.
The bank made a provisioning of Rs 1,802.91 crore during the quarter under review, compared with Rs 1,977.34 crore a year ago.
Canara Bank’s shares were trading at Rs 221.10 apiece on the BSE, up 1.03 percent.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Kidnapped for ransom in 1998, 26/11 survivor Gautam Adani faces biggest trial
Gautam Adani charged in US with USD 250 mn bribery, fraud
India’s GDP growth likely to slip at 6.5 pc, maintains 7 pc estimate for FY25: Icra
RBI cautions public about ‘deepfake’ video of governor being circulated on social media
We disagree with decision, plan to appeal: Meta on CCI imposing Rs 213-cr penalty
MUST WATCH
Latest Additions
10 month baby gets new heart, new life
Saura Swasthya launched: Karnataka to power 5,000 health facilities with solar energy
India-US ties have strong foundation: White House confident in navigating crisis over Adani bribery charges
PM Modi leaves for home after concluding three-nation visit
Siddaramaiah says confident of winning all three bypolls in Karnataka
Thanks for visiting Udayavani
You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.