/ Canara Bank Reported Standalone Net Profit At Rs.214 Crore In Q4FY17, Vs Net Loss Of Rs. 3,905 Crore ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Monday, 8 May 2017

Canara bank's NII for the period came in at Rs 2708 cr registering a 97.1% yoy increase.

Gross NPA’s for the period recorded a 8% yoy increase  to Rs 34202 cr. Thereby worsening of assets by 20bps . Gross NPA as a percentage of Gross Advances stood at 9.63% and NNPA stood at 6.3%

Provisions for bad loans decreased by 57% yoy to Rs 2708 crore.

Also, the bank reported a net profit for the quarter of Rs 214 crore against net loss of Rs3905 crore.This will be driven by decrease in provisions.

Total deposits for the quarter increased  at slower rate by 3% yoy to Rs. 495275 crore and advances grew at faster pace by 49% to 39503.56 crore.

Board has recommended dividend of Rs.1 per equity share of Rs.10 each.

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