Canara Bank slips over 6% as net loss widens to Rs 3,529 crore in Q4

The bank's net interest income (NII) for reporting quarter declined by 9.35 per cent to Rs 3,319 crore

Shares of Canara Bank declined as much as 6.76 per cent to Rs 102.05 on the BSE after the public sector bank's standalone net loss widened to Rs 3,259.3 crore in the March quarter of FY20 (Q4FY20) from net loss of Rs 551.5 crore in Q4FY19.

The bank's pre-tax loss came in at Rs 3,334.5 crore for the fourth quarter on a decline in net interest income and higher employee costs. However, income on a standalone basis during the quarter rose to Rs 14,222.39 crore, compared with Rs 14,000.43 crore in the year-ago period, Canara Bank said in a regulatory filing.

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