Wednesday, August 4, 2021
HomeBusinessCanara Bank Q2 net drops 16pc to Rs. 529 crore

Canara Bank Q2 net drops 16pc to Rs. 529 crore

Bank on Wednesday reported a 15.6 per cent fall in its July-September quarter net profit at Rs. 528.86 crore. The public sector lender had registered a net profit of Rs. 626.84 crore in the corresponding quarter last year.

“Total income has increased to Rs. 12,477.95 crore for the quarter ended September 30, 2015 from Rs. 11,915.21 crore for the quarter ended September 30, 2014,” it said in a BSE filing.

As bank’s asset quality slipped further during quarter of reporting, provisions for bad loans and contingencies grew to Rs. 1,212.31 crore as against Rs. 813.70 crore in the same period a year ago.

The gross non-performing assets (NPAs) or bad loans were 4.27 per cent of gross advances as of September 2015, up from 2.92 per cent in the same period year ago.

Net NPAs too increased to 2.9 per cent from 2.31 per cent in the previous fiscal’s second quarter. Canara Bank scrip traded ended 1.8 per cent lower on BSE.

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