Canara Bank posts ₹1,010 cr. Q4 net profit

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Canara Bank reported fourth quarter net profit of ₹1,010 crore as against a net loss of ₹6,567 crore in the corresponding year-earlier period. The bank also posted a net profit of ₹2,557 crore for FY21 over a net loss of ₹5,838 crore in the previous year. Gross non-performing assets (NPAs) stood at ₹60,288 crore as of March 31, while net NPA was ₹24,442 crore.

In percentage terms, gross NPA fell 46 basis points to 9.93% of total advances, while net NPA declined 52 basis points to 3.82%. In FY21, the bank’s global business stood at ₹16,86,030 crore, a y-o-y increase of 8.23%. The lender saw its global deposits at ₹10,10,875 crore and global advances (gross) at ₹6,75,155 crore grow 11.50% and 3.68%, respectively. Domestic deposit rose to ₹9,63,306 crore at 10.74% y-o-y, while domestic advances (gross) increased 5.51% to ₹6,52,558 crore.

Canara Bank opened 138 lakh accounts under PMJDY and mobilised CASA deposits of ₹6,152 crore in the fiscal ended March 2021.

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