The PSU bank's operating profit before provisions and contingencies rose 34.19% to Rs 5750.66 crore in Q1 FY22 from Rs 4285.45 crore in Q1 FY21. Profit before tax surged nearly 304% to Rs 2022.14 crore in Q1 FY22 over Q1 FY21. The bank's net interest income (NII) rose marginally by 0.84% year on year (YoY) to Rs 6,147 crore from Rs 6,096 crore in Q1FY21. Provisions and Contingencies spiked nearly 18% to Rs 4574 crore in Q1 FY22 from Rs 3880 crore in Q1 FY21. Meanwhile, the bank's provision coverage ratio improved to 81.18% as of 30 June 2021 from 78.95% in 30 June 2020. On the asset quality front, gross non-performing assets (GNPA) ratio stood at 8.50% as of 30 June 2021 as against 8.93% in 31 March 2021 and 8.84% as of 30 June 2020. Net non-performing assets (NNPA) ratio stood at 3.46% as of 30 June 2021 as against 3.82% as at 31 March 2021 and 3.95% as 30 June 2020. Capital Adequacy Ratio stood at 13.36% as at 30 June 2021. Canara Bank is a public sector bank. The Government of India held 69.33% stake in the state-owned commercial bank as of 30 June 2021. The bank has 9,877 Number of Branches, out of which 3,047 are Rural, 2,853 Semi-Urban, 1,973 Urban & 2,004 Metro along with 11,819 ATMs. Powered by Capital Market - Live News |