Get all your news in one place.
100’s of premium titles.
One app.
Start reading
The Hindu
The Hindu
Special Correspondent

Canara Bank’s Q1 net up by 72%

Canara Bank on Monday posted a 72% increase in its net profit at ₹2,022 crore in the first quarter of the fiscal ended in June, as against ₹1,177 crore in the corresponding period a year ago.

The bank said a healthy credit growth and interest income helped the bank to grow its net profit substantially in the quarter.

During the period, the bank’s net interest income (NII) grew by 10.15% to ₹6,785 crore as against ₹6,160 crore in the same period last year.

L.V. Prabhakar, MD and CEO of the bank during a media conference said, “In addition to the higher growth in net interest income, bank’s non-interest income also grew by 25%. All provisions were under control and credit growth was healthy as well in Q1.’‘


Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.