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Friday, May 27, 2022

Canara Bank Q4 Result: Canara Bank’s fourth quarter profit more than doubled, to Rs 1666 crore

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Canara Bank Q4 Result: Public sector Canara Bank has earned a net profit of more than double in the quarter ended March 2022. The bank today said that its standalone net profit has increased by 65 per cent to Rs 1666.22 crore in the fourth quarter of the last financial year. The bank had made a net profit of Rs 1010.87 crore in the same period of the previous financial year.

Canara Bank said in the information sent to the stock exchanges that the total income of the bank increased to Rs 22,323.11 crore in the January-March quarter of 2021-22, as against Rs 21,040.63 crore in the same period of 2020-21. On the asset quality front, the bank’s gross non-performing assets (NPAs) or bad loans declined to 7.51 per cent of gross advances at the end of March 2022, as against 8.93 per cent at the end of March 2021.

Canara Bank’s quarterly results will be held today
Canara Bank has informed on its Twitter handle that a conference on its quarterly results will be held at 3.30 pm and it will be chaired by MD and CEO, Mr. LV Prabhakar.

Know the highlights of Canara Bank’s quarterly results

In value terms, gross NPAs declined to Rs 55,651.58 crore from Rs 60,287.84 crore.

Net NPAs also declined by 2.65 per cent or Rs 18,668.02 crore in the quarter under review as against 3.82 per cent or Rs 24,442.07 crore.

The bank’s net profit for the last financial year more than doubled to Rs 5,678.42 crore as against Rs 2,557.58 crore in the previous financial year.

The total income of the bank increased from Rs 84,204.78 crore to Rs 85,907.15 crore.

The board of directors of the bank has recommended a dividend of Rs 6.50 on each equity share for the last financial year.

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