LAST UPDATED: May 19, 2021, 4:33 p.m.
New Delhi (Anish Yande): Shares of Canara Bank declined by 1 percent on Wednesday’s trading session following the announcement of results for the March quarter of 2021. Canara Bank’s share opened at Rs 148 per share from its previous close of Rs 146.65 per share on Monday. The shares of the bank declined to Rs
Canara Bank March quarter results:
Canara Bank reported a net loss of Rs 3,259 crore in the Q4 FY20. The bank’s net profit increased to Rs 1,011 crore in the January-March quarter of FY21. The net profit rose by 54.1 percent on a year-on-year basis. In the fiscal year 2021, the net profit of Canara Bank rose to Rs 2,557.58 crore. In FY20, the net loss for the bank was reported at Rs 2,235.72 crore.
The operating profit of Canara Bank rose to Rs 5,703 crore in the March quarter of 2021 from Rs 2,041 crore in the corresponding period of the previous year.
Interest income increased by 35 percent at Rs 16,316 crore in Q4 FY21 as compared to Rs 12047 crore in Q4 FY20. The public sector lender has reported a total income of Rs 21,522.60 crore during the quarter ended March 31, 2021. Total income of Canara Bank was recorded at Rs 14,222.39 crores during the quarter ended December 31, 2020.
Canara Bank’s NPA improves to 9.39 percent:
Canara Bank’s non-performing assets during the quarter under review are at Rs 4,427.53 crore. The non-performing assets of the public sector lender were at Rs 4,875.28 crore in the corresponding period of the previous year. From the previous fiscal, the gross non-performing assets ratio was at 9.39 percent which improved to 8.93 percent.
The bank’s retail loans rose to Rs 1,15,312 crore at the end of the March quarter, at an increase of 12.14 percent. Provisions and contingencies of Canara Bank declined from Rs Rs 5,375 crore in the corresponding quarter of last year and Rs 5,375 crore in the previous December quarter to Rs 4,134 crore in the March quarter of 2021.
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