Net NPAs fell to 2.19% from 3.22% a year earlier while gross NPAs declined to 6.37% of the gross advances compared with 8.42% a year earlier
Net NPAs fell to 2.19% from 3.22% a year earlier while gross NPAs declined to 6.37% of the gross advances compared with 8.42% a year earlier
The second-quarter net profit of state-owned lender Canara Bank surged 89.42% to ₹2,525 crore.
Total income grew to ₹24,932.2 crore from ₹21,331.5 crore in the year-earlier period. Operating profit rose 23.22% YoY to ₹6,905 crore, the bank said.
Net NPAs fell to 2.19% from 3.22% a year earlier while gross NPAs declined to 6.37% of the gross advances compared with 8.42% a year earlier.
“Canara Bank stands tall in the banking industry for giving wings to many MSMEs, and an Indian dream through our retail products over a century,” said L. V. Prabhakar, MD & CEO, Canara Bank.
The bank said its domestic deposits grew 7.77% YoY to ₹10,56,519 crore. Its global business increased by 13.89% YoY to ₹19,58,111 crore in the quarter with global deposits and global advances growing to ₹11,33,964 crore and ₹8,24,147 crore at 9.82% and 20% YoY, respectively.
