Canara Bank Q1 net profit triples to ₹1,177 cr.
The Hindu
‘Fall in bad loans helped boost profit’
Canara Bank reported an almost threefold jump in net profit to ₹1,177 crore for the quarter ended June 30 from more than ₹406 crore in the year-earlier period. Reduction in bad loans helped net profit grow substantially, the lender said. Gross NPA ratio stood at 8.5% in the April-June quarter as against 8.93% in the previous quarter and 8.84% in June 2020 quarter, MD & CEO L.V. Prabhakar said on Tuesday.
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