Canbank Factors' H1 net up 26%

Canbank Factors, a subsidiary of Canara Bank, has posted a 26.03% rise in net profit to Rs 7.31 crore for the half-year ended September 30, 2006, (H1) as against Rs 5.80 crore during the corresponding previous period.

According to an official release issued by the company today, it has logged 45.09% growth in factoring volume to Rs 1,686.02 crore for H1 as against Rs 1,162.04 crore in the corresponding period of the previous year. 

The funds deployed in the business rose to Rs 755.92 crore as against Rs 447.54 crore in the previous year registering a growth of 68.91%.