scorecardresearchCanara Bank Q3 profit surges 92% to ₹2,882 crore

Canara Bank Q3 profit surges 92% to 2,882 crore

Updated: 23 Jan 2023, 03:42 PM IST
TL;DR.
Canara Bank Q3 profit surges 92% to 2,882 crore
A rickshaw puller passes the Canara Bank branch in the old quarters of Delhi, India.

A rickshaw puller passes the Canara Bank branch in the old quarters of Delhi, India.

(PTI) Canara Bank on Monday reported 92 per cent jump in profit at 2,882 crore for the quarter ended December 2022, helped by a rise in interest income and decline in bad loans.

Its net profit stood at 1,502 crore in the same quarter of the preceding financial year.

Total income increased to 26,218 crore in the quarter from 21,312 crore in the year-ago period, the state-owned bank said in a regulatory filing.

At the same time, interest income rose to 22,231 crore as against 17,701 crore in the same quarter a year ago.

On the asset quality front, the bank recorded an improvement with gross NPAs (Non-Performing Assets) declining to 5.89 per cent as compared to 7.80 per cent at the end of third quarter of 2021-22.

Net NPAs too eased to 1.96 per cent as compared to 2.86 per cent in the same period a year ago.

The capital adequacy ratio rose to 16.72 per cent in December quarter as against 14.80 per cent.

First Published: 23 Jan 2023, 03:42 PM IST