State-run Canara Bank on Wednesday posted 17 per cent dip in its consolidated net profit at Rs 3,341.69 crore for 2011-12. For the year ended March 31, 2011, the bank had a net profit of Rs 4,034.19 crore, it said in a filing to the Bombay Stock Exchange.
Canara Bank on Thursday reported a 7.7 per cent drop in net profit — at Rs 829 crore — for the fourth quarter ended March 31, 20112, compared with Rs 899 crore in January-March of last financial year.
State-owned Canara Bank reported a 8% dip in net profit at Rs 829 crore for the quarter ended March 2012 as against Rs 899 crore in the same period a year ago.
State-owned lender Canara Bank has cut base rate and BPLR by 0.25 percentage points each to 10.50% and 14.75% respectively, which will take effect from tomorrow.
Canara Bank has become the latest to slash interest rates on loans, reducing its base rate by 25 basis points to 10.5%. The new rate comes into effect from Tuesday.
With early signs of improvement in the market sentiments and talks of a likely cut in the Cash Reserve Ratio (CRR), public sector lender Canara Bank is now hoping to get back to a Credit Deposit Ratio (CDR) of around 72 per cent from the present 69 per
Public-sector lender Canara Bank today reported a 21% decline in net profit to Rs 875.56 crore for the third quarter ended December 31, on account of rise in bad assets.
Banking shares are in focus on the bourses in early noon deals with most the frontline stocks trading higher by more than 2% each on the National Stock Exchange (NSE).
FIIs continue to be net sellers while domestic funds are trying to counter that by buying in a weak market. Meanwhile, LIC has cut its investments for FY12 by a third.
Bangalore-based public sector lender Canara Bank has registered a year-on-year growth of 24.8 per cent in its global business at Rs 5,30,515 crore during the second quarter-ended September, 2011, compared to the corresponding quarter last year.
However, total income of the lender rose to Rs 8,442.73 crore during the quarter from Rs 6,077.06 crore in the same period last year, Canara Bank said in a filing to the BSE.
The Bangalore-headquartered bank has also revised its Benchmark Prime Lending Rate (BPLR) upward by 50 basis points from 14.50% to 15%, it said in a statement today.
Canara Bank today posted a net profit of Rs 725.85 crore for the first quarter ended June, 2011, slipped 28.37% from Rs. 1,013.37 crore in the same quarter the previous year.
Though credit offtake was sluggish in the first quarter, the overall credit growth for the full year for public sector Canara Bank is expected to be 18-20 per cent backed by a 22-23 per cent growth in deposits, said Archana Bhargava, its executive
In a bid to expand its overseas footprint, Canara Bank plans to open offices in five countries, including Germany and Japan, during the current fiscal.
