Canara Bank Q1 net up 71.8% YoY to Rs 2,022 cr on higher interest income

Sequentially, its net profit rose 21.4%; lender's treasury income rises despite hardening yields

Canara Bank’s net profit grew by 71.8 per cent year on year (YoY) to Rs 2,022 crore in the quarter ended June (Q1FY23) on the back of a rise in its net interest income (NII) and other income.

The Bengaluru-based public sector lender had posted a net profit of Rs 1,177 crore during the same period last year (Q1FY22). Sequentially, its net profit rose 21.4 per cent from Rs 1,666 crore in Q4FY22.

The bank’s stock was trading 1.4 per cent lower at Rs 225.8 per share on BSE on Monday.

Its net interest income (NII) was up 10.15 per