Canara Bank Q3 Profit Surges 29% to Rs 3,656 Crore
Canara Bank reported a 29% jump in its Q3 profit to Rs 3,656 crore, driven by increased total income and net interest income. Gross NPAs also declined.
New Delhi, Jan 24 (PTI) State-owned Canara Bank on Wednesday posted a 29 per cent increase in its profit at Rs 3,656 crore in the third quarter ended December 2023.
The bank had earned a net profit of Rs 2,832 crore in the same quarter a year ago.
Total income increased to Rs 32,334 crore during the quarter under review against Rs 26,218 crore in the same period last year, Canara Bank said in a regulatory filing.
The net interest income of the bank rose by 9.5 per cent to Rs 9,417 crore during the quarter.
About asset quality, the bank said its gross Non-Performing Assets (NPAs) declined to 4.39 per cent of the gross loans by the end of December 2023 from 5.89 per cent a year ago.
Similarly, net NPAs or bad loans came down to 1.32 per cent from 1.96 per cent at the end of the third quarter of the previous fiscal.
The bank had earned a net profit of Rs 2,832 crore in the same quarter a year ago.
Total income increased to Rs 32,334 crore during the quarter under review against Rs 26,218 crore in the same period last year, Canara Bank said in a regulatory filing.
The net interest income of the bank rose by 9.5 per cent to Rs 9,417 crore during the quarter.
About asset quality, the bank said its gross Non-Performing Assets (NPAs) declined to 4.39 per cent of the gross loans by the end of December 2023 from 5.89 per cent a year ago.
Similarly, net NPAs or bad loans came down to 1.32 per cent from 1.96 per cent at the end of the third quarter of the previous fiscal.
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