Canara Bank announces 89 per cent year-on-year growth in net profit

Canara Bank

Canara Bank announced an 89 per cent year-on-year growth in net profit to 2,525 crore in the second quarter of FY23 on Thursday. In the same quarter previous year, it reported a PAT of 1,333 crore.

The bank reported a net interest income of Rs 20,482.35 crore, up 18.51 per cent year on year from Rs 17,336.33 crore in Q2FY22.

The net non-performing assets (NNPA) during this quarter were 17,296.89 crore, compared to 20,884.40 crore in the same quarter previous year.

This quarter’s basic profits per share were 14.91, up from 7.66 in Q2FY22.

Domestic deposits were at 10,56,519 crore in Q2, up 7.77 per cent over the same period previous year. Gold loans increased by 32.86 percent in Q2 FY23, with a portfolio value of 1,08,794 crore.

Canara Bank has 9,722 branches, 3,040 of which are in rural regions, 2,748 in semi-urban areas, 2,002 in urban areas, and 1,932 in metro cities, as well as 10,759 ATMs. In addition, the bank maintains three international branches in London, Dubai, and New York.

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