Canara Bank Q3 profit falls
Canara Bank’s
profit for the third quarter down 42.38 per cent due to higher provisioning for
NPA's and depreciation on investments .
- Bank's deposits were Rs.4,08,924 crore (Rs.3,23,963 crore last year) at the end of the third quarter with 26.2 per cent year-on-year growth.
- Advances were at Rs. 2,87,700 crore (Rs.2,18,242 crore last year)with 31.8 per cent growth.
- Capital Adequacy Ratio was at 9.83 per cent and tier-I ratio was 7.48 per cent, as of December 2013.
- Total income increased 16.45 per cent to Rs.10,935.29 crore from Rs. 9,390.29 crore last year.
- Operating profit was Rs. 1,591 crore which is 5 percent increase.
- The profit was Rs. 409.35 crore in Q3 of FY2014 when compared to Rs. 710.51 crore in the same quarter of FY2013.
- Net Interest Income(NII): Rs. 2,227
crore which is 12 percent increase.
- NIM was at 2.21 percent.
- Gross non-performing assets (NPA) stood
at Rs. 8,073.92 crore and its ratio was 2.79 percent (2.77 %
last year).
- Net NPAs stood at Rs. 6,869.87 crore and its ratio stood at 2.39 percent (2.35% last year).
- Planning to raise Rs. 1,000 crore
subordinate unsecured debt by March 2014.
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