InvestorQ : How did you find the quarterly results of Canara Bank for the Jun-21 quarter?
Rutuja Nigam made post

How did you find the quarterly results of Canara Bank for the Jun-21 quarter?

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5 months ago
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Canara Bank Jun-21 quarter net profits were sharply higher by 190% at Rs.1,177 crore on the back of higher non-interest income and lower provisioning for non-performing loans. For Canara Bank, the net interest income or NII rose marginally by 0.84% in the Jun-21 quarter to Rs.6,147 crore.

Canara Bank reported net interest margins or NIMs of 2.71% against 2.84% last year. The NIM level is sharply lower than its private sector counterparts which are normally above 4%. Gross NPAs were 34 bps lower at 8.50% which is high in absolute terms. The Provision Coverage Ratio or PCR stood at 81.18%.

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