Canara Bank NPAs

Net Interest Margins (NIM) for the third quarter stood at 3.03 per cent, compared to 3 per cent in the previous quarter and 3.05 per cent in the same period last year

State-owned Canara Bank on Monday reported a 75 per cent rise in net profit at Rs 3,535 crore in the June quarter, helped by decline in bad loans and growth in interest income. The Bengaluru-based lender had posted a net profit of Rs 2,022 crore in the year-ago period. Total income in the first quarter of the current fiscal rose to Rs 29,828 crore, from Rs 23,352 crore in the same period a year ago, Canara Bank said in a regulatory filing. Interest earned by the bank improved to Rs 25,004 crore over Rs 18,177 crore in June 2022. The bank's asset quality showed improvement as gross non-performing assets (NPAs) declined to 5.15 per cent of gross advances at the end of the June quarter, from 6.98 per cent a year ago. Similarly, net NPAs or bad loans declined to 1.57 per cent, as against 2.48 per cent in the year-ago period. As a result, provision for bad loans came down to Rs 2,418 crore, as against Rs 2,673 crore allocated in the same quarter a year ago. Capital Adequacy Ratio of

State owned Canara Bank today said Kolkata based RP Infosystems was declared as a fraud account in May 2015 in which it was a part of consortium of 17 banks and its exposure in the case was Rs 40 crore. Clarifying to exchanges about news reports in a section of media stating that Canara Bank has filed a complaint with CBI on fraudulent transactions of Rs 515 crore against Kolkata based RP Infosystems and its directors, the bank said it financed a working capital limit (loan) of Rs 40 crore (4.69 per cent) as part of the consortium arrangement of 17 banks. "We were not the leader of the consortium. The leader bank had already filed a case with CBI in May 2015. The account had already been treated as fraud by our bank during October 2015 and reported to RBI," it said in a statement. Consequent upon the leader bank relinquishing its role as the leader of the consortium, and as directed by CBI (BS&FC), Kolkata, we were authorised by the remaining member banks to file revised complaint

The bank's gross bad loans stood at Rs 31,637.83 crore as on March 31, 2016