Home Business Canara Bank reports nearly 90% growth in Q2 profit to Rs 2,525...

Canara Bank reports nearly 90% growth in Q2 profit to Rs 2,525 crore

The gross non-performing assets (NPAs) of the bank stood at 6.37 per cent of the gross advances. (file)

New Delhi:

Public sector Canara Bank on Thursday reported 89 per cent growth in its net profit at Rs 2,525 crore for the second quarter ended September of the current financial year.

The bank had a net profit of Rs 1,333 crore in the same period of the previous financial year.

Canara Bank said in a regulatory filing that total income also increased to Rs 24,932.19 crore during July-September this year as against Rs 21,331.49 crore in the same period of 2020-21.

The bank’s gross non-performing assets (NPAs) stood at 6.37 per cent of gross advances as on September 30, 2022, compared to 8.42 per cent at the end of September 2021.

Net NPAs also fell to 2.19 per cent from 3.22 per cent at the end of September 2021 quarter.

(Except for the title, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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