Canara Bank’s Q3 net profit jumps 115.8%

City-based Canara Bank reported a 115.8% jump in its net profit to ₹1,502 crore for the third quarter ending December 2021, against ₹696 crore in the corresponding quarter a year ago.

During the third quarter, the bank reported a net interest income of ₹6,946 crore, a year-on-year increase of 14.11%, as per a regulatory filing it made on Thursday.

Gross advances

The bank’s gross advances during the period grew 9.28% to reach ₹7,29,506 crore.It also reported a net NPA at 2.86% and gross NPA at 7.8% a quarter on quarter decline of 35 basis points and62 bps, respectively.

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Printable version | May 24, 2022 5:15:02 am | https://www.thehindu.com/news/national/karnataka/canara-banks-q3-net-profit-jumps-1158/article38335502.ece