Canara Bank Q3 net profit up 115.8%

Hyderabad: Canara Bank reported a 115.8 per cent jump year-on-year (YoY) in its net profit at Rs 1,502 crore for the third quarter ended 31 December 2021. The bank’s operating profit grew by 10.16 per cent for the period under review. For the nine months ended 31 December 2021, the bank’s net profit grew by […]

Hyderabad: Canara Bank reported a 115.8 per cent jump year-on-year (YoY) in its net profit at Rs 1,502 crore for the third quarter ended 31 December 2021. The bank’s operating profit grew by 10.16 per cent for the period under review.

For the nine months ended 31 December 2021, the bank’s net profit grew by 159.51 per cent YoY while the operating profit grew by 16.72 per cent.

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The bank’s global business increased by 8.06 per cent YoY to Rs 17,72,856 crore as of December 2021 with global deposits at Rs 10,43,350 crore growing 7.23 per cent YoY. Domestic deposit of the bank stood at Rs 9,88,659 crore as of December 2021 with growth of 6.50 per cent YoY.

Retail lending Portfolio increased 10.02 per cent YoY to Rs 1,23,098 crore as of December 2021, housing loan portfolio increased 14.82 per cent YoY to Rs 70,735 crore, vehicle loan portfolio increased 4.74 per cent YoY to Rs 14,036 crore, while advances to agriculture grew by 11.89 per cent YoY to Rs 1,68,569 crore as of December 2021.

Canara Bank’s Gross Non-Performing Assets ratio reduced to 7.80 per cent as of December 2021, down from 8.42 per cent as of September 2021. Net Non-Performing Assets ratio reduced to 2.86 per cent as of December 2021 down from 3.21 per cent as of September 2021.

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