Canara Bank Q2 net jumps to ₹1,333 crore
The Hindu
Canara Bank on Tuesday reported a threefold jump in Q2 net profit to ₹1,333 crore on the back of treasury and non-interest income besides higher cash recovery. Net interest income was a tad lower at
Canara Bank on Tuesday reported a threefold jump in Q2 net profit to ₹1,333 crore on the back of treasury and non-interest income besides higher cash recovery. Net interest income was a tad lower at ₹6,273 crore (₹6,305 crore) while total income rose 2.6% to ₹21,331 crore.
Addressing a virtual media conference, MD and CEO L. V. Prabhakar said operating profit grew 22% to ₹5,604 crore as against Rs 4,597 crore in the year-earlier period.
Treasury income surged 95% to ₹1,754 crore while non-interest income rose 37.5% to ₹4,268 crore. NPA provision declined by 24% to ₹2,678 crore with an improvement in recovery of loans , Mr. Prabhakar said.
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