Canara Bank Q3 profit up 3-fold at Rs 322 crore

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Judul : Canara Bank Q3 profit up 3-fold at Rs 322 crore
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Canara Bank Q3 profit up 3-fold at Rs 322 crore

State-owned on Friday reported nearly 3-fold jump in net to Rs 321.8 crore for the third quarter of 2016-17 even though doubled.

The Bangalore-based lender had a net of Rs 84.9 crore for the October-December quarter of FY16.

The bank's total income rose marginally to Rs 12,079.3 crore for the quarter under review, from Rs 12,050.6 crore in the year-ago period, said in a regulatory filing to exchanges.

The bank's gross Non-Performing Assets (NPAs) or as a percentage of total advances rose to 9.97% from 5.84% in the same quarter a year ago.

Its net went up to 6.72% from 2.42% at the end of December 2015.

Gross in absolute terms rose significantly to Rs 34,338.65 crore as compared to Rs 19,813.44 crore at the end of December 2015.

However, total provisions, excluding for income tax, made during the third quarter rose marginally to Rs 1,484.57 crore as against Rs 1,428.85 crore in the year-ago period.

For the first three-quarters of 2016-17, posted 17% decline in at Rs 907.74 crore, as compared to Rs 1,092.67 crore in the year-ago period.

The bank's total income for the nine month period in the current fiscal stood at Rs 36,052.84 crore as compared to Rs 36,781.22 crore in the same period of previous financial year.

State-owned on Friday reported nearly 3-fold jump in net to Rs 321.8 crore for the third quarter of 2016-17 even though doubled.

The Bangalore-based lender had a net of Rs 84.9 crore for the October-December quarter of FY16.

The bank's total income rose marginally to Rs 12,079.3 crore for the quarter under review, from Rs 12,050.6 crore in the year-ago period, said in a regulatory filing to exchanges.

The bank's gross Non-Performing Assets (NPAs) or as a percentage of total advances rose to 9.97% from 5.84% in the same quarter a year ago.

Its net went up to 6.72% from 2.42% at the end of December 2015.

Gross in absolute terms rose significantly to Rs 34,338.65 crore as compared to Rs 19,813.44 crore at the end of December 2015.

However, total provisions, excluding for income tax, made during the third quarter rose marginally to Rs 1,484.57 crore as against Rs 1,428.85 crore in the year-ago period.

For the first three-quarters of 2016-17, posted 17% decline in at Rs 907.74 crore, as compared to Rs 1,092.67 crore in the year-ago period.

The bank's total income for the nine month period in the current fiscal stood at Rs 36,052.84 crore as compared to Rs 36,781.22 crore in the same period of previous financial year.



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