Public sector lender Canara Bank on October 26 reported a net profit of Rs 3,606 crore for the July-September quarter of FY24, up 43 percent from the year-ago period.
The lender's net interest income (NII) came in at Rs 8,903 crore, 19 percent higher from the the corresponding quarter of the previous fiscal.
The bank's gross non-performing asset (NPA) stood at 4.76 percent, down from 6.37 percent in year-ago period. Net NPA for the quarter improved to 1.41 percent from 2.19 percent in the year-ago period.
Deposit of the bank stood at Rs 11.43 lakh crore growing by 8.22 percent and domestic advances stood at Rs 8.78 lakh crore growing by 12.59 percent.
The lender's RAM credit grew by 13.63 percent to Rs 5.16 lakh crore and constitutes 56 percent of the total advances. Retail credit grew by 10.56 percent with housing loan growth at 12.32 percent and education Loan grew by 14.68 percent whereas vehicle loan grew by 9.29 percent.
The bank's retail portfolio increased to Rs 1.48 lakh crore and grew by 10.56 percent. Housing loan portfolio increased by 12.32 percent to Rs 88,564 crore and advances to agriculture grew by 20.54 percent to Rs 2.36 lakh crore.
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