Report Wire - Canara Bank Q3 revenue surges 92% to ₹2,882 crore

Report Wire

News at Another Perspective

Canara Bank Q3 revenue surges 92% to ₹2,882 crore

1 min read
A rickshaw puller passes the Canara Bank branch in the old quarters of Delhi, India.

(PTI) Canara Bank on Monday reported 92 per cent leap in revenue at ₹2,882 crore for the quarter ended December 2022, helped by an increase in curiosity revenue and decline in dangerous loans.

Its internet revenue stood at ₹1,502 crore in the identical quarter of the previous monetary 12 months.

Total revenue elevated to ₹26,218 crore within the quarter from ₹21,312 crore within the year-ago interval, the state-owned financial institution stated in a regulatory submitting.

At the identical time, curiosity revenue rose to ₹22,231 crore as in opposition to ₹17,701 crore in the identical quarter a 12 months in the past.

On the asset high quality entrance, the financial institution recorded an enchancment with gross NPAs (Non-Performing Assets) declining to five.89 per cent as in comparison with 7.80 per cent on the finish of third quarter of 2021-22.

Net NPAs too eased to 1.96 per cent as in comparison with 2.86 per cent in the identical interval a 12 months in the past.

The capital adequacy ratio rose to 16.72 per cent in December quarter as in opposition to 14.80 per cent.

Catch all of the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint.
Download The Mint News App to get Daily Market Updates.

More
Less