State-owned Canara Bank’s net profit jumped 89 per cent in the second quarter of the fiscal year ended last September.
A statement issued by the bank said:
The bank’s net profit for the July-September quarter was Rs 2,525 crore.
It was Rs 1,333 crore in the corresponding period of the previous financial year. In comparison, the bank’s net profit increased by 89 per cent in the 2nd quarter of the current financial year.
The total income of the bank has increased to Rs 24,932.19 crore in July-September this year from Rs 21,331.49 crore in the same period of the financial year 2020-21.
At the end of September last year, the bank’s total bad loans stood at 8.42 percent. It has come down to 6.37 percent at the end of last month.
Net NPLs also declined from 3.22 percent in September last year to 2.19 percent this September, the report said.