State-owned Canara Bank on Tuesday reported a standalone revenue of Rs 1,010.87 for the fourth quarter ended March 2021 as provision for dangerous loans declined.
The financial institution had posted a internet lack of Rs 3,259.33 crore throughout the corresponding January-March 2020 quarter.
Total revenue on a standalone foundation throughout January-March rose to Rs 21,522.60 crore as towards Rs 14,222.39 crore within the year-ago interval, Canara Bank mentioned in a regulatory submitting.
The lender’s provision for non-performing property (NPAs) declined to Rs 4,427.53 crore for the March 2021 quarter in comparison with Rs 4,875.28 crore parked apart within the corresponding interval of 2019-20.
For the complete 2020-21, there was a revenue of Rs 2,557.58 as towards the lack of Rs 2,235.72 crore throughout 2019-20.
On the asset high quality, gross NPAs continued to stay at an elevated stage of 8.93 per cent on the finish of March 2021, barely greater than 8.21 per cent by the top of March 2020.
In worth phrases, the gross NPAs or dangerous loans of the financial institution surged to Rs 60,287.84 crore as of March 31, 2020, vis-a-vis Rs 37,041.15 crore within the year-ago interval.
Net NPAs had been, nevertheless, trimmed considerably to three.82 per cent (Rs 24,442.07 crore) from 4.22 per cent (Rs 18,250.95 crore).
It is to be famous that the amalgamation of Syndicate Bank into Canara Bank was effected on April 1, 2020.
“Figures of the quarter ended March 31, 2020, and year ended March 31, 2020, are related to standalone Canara Bank financials of the pre-amalgamation period, hence not comparable with post amalgamation financials for the quarter ended March 31, 2021, and year ended March 31, 2021,” it mentioned.
Provision protection ratio as of March 31, 2021, stood at 79.68 per cent, in comparison with 75.86 per cent a yr in the past, it mentioned.
The capital adequacy ratio of the financial institution stood at 13.18 per cent as of March 2021. Out of which Tier-I is 10.08 per cent and Tier-II is 3.10 per cent, it mentioned.