November 03, 2024 00:00 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Andhra Pradesh: Three-year-old girl raped and murdered by relative in Tirupati | Two terrorists killed in encounter with security forces in Kashmir's Anantnag | Bengal: 5-year-old girl raped and murdered in Alipurduar, accused beaten to death by angry villagers | Kashmir: Encounter breaks out between security forces and terrorists in Srinagar | Mumbai Police initiates extradition process to bring back Lawrence Bishnoi's brother Anmol Bishnoi from US
Canara Bank Q3FY24: Net profit grows 27% to Rs 3,656 cr; NII stands at Rs 9,417 cr

Canara Bank Q3FY24: Net profit grows 27% to Rs 3,656 cr; NII stands at Rs 9,417 cr

| @indiablooms | 25 Jan 2024, 01:28 pm

Bengaluru: State-owned lender Canara Bank announced a net profit of Rs 3,656 crore for the October-December quarter of the fiscal year 2023-24, an increase of 26.87 percent compared to the Rs 2,881.52 crore reported in the corresponding period of the previous year.

The bank's gross non-performing asset (NPA) reduced to 4.39 percent from the 5.89 percent recorded in the same quarter the previous year. Conversely, the net NPA for the quarter improved to 1.32 percent from 1.96 percent on a year-on-year basis.

Canara Bank's Net Interest Income reached Rs 9,417 crore, demonstrating a growth of 9.50 percent. The Net Interest Margin also improved to 3.02 percent, a 9 basis points increase.

The global business of the public sector lender increased by 9.87 percent year-on-year to Rs 22,13,360 crore as of December 2023, with global deposits at Rs 12,62,930 crore and global advances (gross) at Rs 9,50,430 crore.

Canara Bank's retail lending portfolio saw growth, reaching Rs 1,53,640 crore, a 12.14 percent increase year-on-year.

Notably, the Housing Loan Portfolio increased by 12.07 percent year-on-year to Rs 91,800 crore. Advances to Agriculture & allied activities grew by 19.26 percent year-on-year to Rs 2,42,470 crore as of December 2023.

As of December 31, 2023, the Bank operates a network of 9,585 branches, comprising 3,095 in rural areas, 2,742 in semi-urban areas, 1,906 in urban areas, and 1,842 in metro areas.

The Bank has 10,463 ATMs. It has established three international branches located in London, New York, and Dubai.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.