Moneycontrol
Last Updated : Oct 31, 2018 04:25 PM IST | Source: Moneycontrol.com

Canara Bank Q2 profit rises to Rs 299.5 crore as asset quality improves

The company’s gross NPA was down at 10.56 percent against 11.05 percent, while net NPA was down at 6.54 percent versus 6.91 percent.

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Rs 290 crore | 2017 | CBI arrested the promoters of Abhijeet Group—Manoj Jayaswal and Abhishek Jayaswal—and TL Pai, a former DGM of Canara Bank, for allegedly defrauding Canara and Vijaya Banks of Rs 290 crore. (Wikimedia Commons)
Rs 290 crore | 2017 | CBI arrested the promoters of Abhijeet Group—Manoj Jayaswal and Abhishek Jayaswal—and TL Pai, a former DGM of Canara Bank, for allegedly defrauding Canara and Vijaya Banks of Rs 290 crore. (Wikimedia Commons)
 
 
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Canara Bank has reported 5 percent increase in its QoQ net profit at Rs 299.5 crore as asset quality improved for the quarter ended September 2018.

The company had posted net profit of Rs 284.1 crore in the quarter ended September 2017.

The company’s gross NPA was down at 10.56 percent against 11.05 percent, while net NPA was down at 6.54 percent versus 6.91 percent.

The net interest income was down 15 percent at Rs 3,281.3 crore, while provisions were up at Rs 2,835.1 crore versus Rs 2582.3 crore.

In the absolute term its gross NPA was up marginally at Rs 45,233.2 crore against Rs 44,659.6 crore, while net NPA was up at Rs 26,777.6 crore versus Rs 26,693.5 crore, QoQ.
First Published on Oct 31, 2018 04:25 pm

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