Canara Bank Q4 net profit doubles to Rs 1,666 cr

New Delhi: State-owned Canara Bank on Friday reported a 65 per cent jump in its standalone net profit at Rs 1,666.22 crore for quarter ended March 2022.

The Bengaluru-headquartered bank had posted a net profit of Rs 1,010.87 crore in the same quarter a year ago. Total income of the bank in the January-March period of 2021-22 rose to Rs 22,323.

11 crore, from Rs 21,040.63 crore in the same period of 2020-21, Canara Bank said in a regulatory filing. On the asset quality front, the bank’s gross nonperforming assets (NPAs) or bad loans fell to 7.51 per cent of the gross advances at the end of March 2022, as against 8.93 per cent at the end of March 2021.

In value ter ms, the gross NPAs were worth Rs 55,651.58 crore, down from Rs 60,287.84 crore. Net NPAs also got better at 2.65 per cent (Rs 18,668.02 crore) in the quarter under review, from 3.82 per cent (Rs 24,442.07 crore). (PTI)