Canara Bank Q4 profit down 16% at Rs 611cr

State-owned Canara Bank today recorded 15.8 per cent decline in net profit at Rs 610.83 crore for the fourth quarter ended March, 2014.

The Bangalore-based lender had a net profit of Rs 725.38 crore in the January-March quarter of 2012-13 fiscal, Canara Bank said in a filing to the BSE.

Total income of the bank increased to Rs 11,609.72 crore in the January-March quarter, as against Rs 9,471.57 crore in the year-ago period.

For the entire 2013-14, the bank's net profit slipped by 15.1 per cent to Rs 2,438.19 crore, compared to Rs 2,872.10 crore in the previous fiscal.

However, the total income of last fiscal jumped to Rs 43,480.37 crore from Rs 37,230.94 crore in 2012-l3.

As far as asset quality of the bank is concerned, the gross NPAs as a percentage to total advances declined to 2.49 per cent from 2.57 per cent in the same quarter an year ago.

Its net NPAs also came down to 1.98 per cent, from 2.18 per cent at the end of March 2013.

The board of the bank has proposed a final dividend of 45 per cent or Rs 4.5 per share of face value of Rs 10 for 2013-2014.

OBC scrip was trading at Rs 308.35, up 7.95 per cent, in the afternoon trade on the BSE.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • If the first 17 editions of Saarc were tragedies, Kathmandu was a sham

    Rarely has a regional grouping such as the South Asian Association of Regional Cooperation (Saarc) promised so much and delivered so little.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Varun Dutt

By the power of wind, let there be light

In India, the development of wind power began in the ...

Zehra Naqvi

Being unrealistic can be good for you

Depression is a term that most people use very casually ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture