Bengaluru Bengaluru: Public sector lender, Canara Bank on Monday reported a net profit of Rs 4,104 crore in the third quarter of the current financial year, up 12 per cent over the same period last year. During this period, its net interest income stood at Rs 9,149 crore, down 3 per cent on a year-on-year basis. Its operating profit grew 15.15 per cent to Rs 7,837 crore in the third quarter of FY25. Fee-based income stood at Rs 2,185 crore during this period, up 23 per cent on a year-on-year basis. By the end of December quarter, Canara Bank’s global business stood at Rs 29.19 lakh crore, of which global deposits stood at Rs 13.69 lakh crore while global advances stood at Rs 10.49 lakh crore. The public sector lender’s advances grew 10.45 per cent during the third quarter. The bank’s retail loans grew strongly and recorded a growth of 35.5 per cent. Under retail loans, home loan growth was 12.26 per cent and auto loan growth was 17.26 per cent during the third quarter. Despite a decline in net interest income (NII), the bank saw an improvement in its asset quality. While its gross NPA ratio declined to 3.34 per cent from 4.39% last year, net NPA ratio improved to 0.83 per cent during the December quarter. Its net interest margin (NIM) stood at 2.83 per cent as compared to 2.88 per cent reported in the previous quarter. The bank’s provision coverage ratio improved to 91.26 per cent from 89 per cent reported in the same period last year.
Canara Bank’s third quarter net profit rose 12% to Rs 4,104 crore
