How were the latest Jun-20 results of Canara Bank?
Answer
Answer
For the Jun-20 quarter, Canara Bank reported net interest income or NII of Rs.6096 crore for the Jun-20 quarter. This represents an 88% growth on a YOY basis. For the same period, the net profits were nearly 24% higher at Rs.406 crore. It is interesting that it has been one more PSU bank that has done extremely well in a tough market situation.
There was a sharp 75% spurt in operating profit at Rs. 4285 crore in the Jun-20 quarter. The bank managed to report a bounce in profit on lower provisioning in the quarter.