Home / Companies / Results / Canara Bank Q1 net nearly triples to Rs 1,177 cr as provisions dip

Canara Bank Q1 net nearly triples to Rs 1,177 cr as provisions dip

Net interest income rose by just 0.84 per cent in Q1FY22 to Rs 6,147 crore from Rs 6,096 crore a year ago

Canara Bank alleges Rs 5 bn fraud by Kolkata-based R P Infosystems

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Its stock was trading 1.77 per cent higher at Rs 149.25 per share on BSE.

2 min read Last Updated : Jul 28 2021 | 2:35 AM IST

Public sector lender Canara Bank on Tuesday reported net profit of Rs 1,177 crore for the June quarter, a 190 per cent rise over Rs 406 crore last year, helped by higher non-interest income and a fall in provisions for bad loans.

The Bengaluru-based lender’s stock ended 1.47 per cent higher on the BSE at Rs 148.8.

In a BSE filing, the bank said its net interest income rose just 0.84 per cent year-on-year (YoY) in Q1FY22 to Rs 6,147 crore versus Rs 6,096 crore.

Net interest margin fell to 2.71 per cent for Q1 against 2.84

Topics : Canara Bank Bad loans banks bad loans

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