Canara Bank posted a 12.25% growth in standalone net profit at Rs 4,104.20 crore for the October-December quarter of FY25, compared to Rs 3,656.12 crore in the same period last year. The bank’s total income increased to Rs 36,113.77 crore, up from Rs 32,333.93 crore in Q3 FY24, as per its regulatory filing.
While the bank’s interest income grew to Rs 30,311.61 crore from Rs 28,038.83 crore year-on-year, its Net Interest Income (NII) dropped by 2.85%, standing at Rs 9,148.57 crore compared to Rs 9,417 crore in the same quarter last year.
The asset quality of the bank showed improvement, with gross Non-Performing Assets (NPAs) reducing to 3.34% from 4.39% a year ago. Similarly, net NPAs decreased to 0.89% from 1.32% during the same period.
However, provisions and contingencies rose sharply, amounting to Rs 2,398.25 crore in Q3 FY25, compared to Rs 1,898.91 crore in the previous year.
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Source: Moneycontrol
News Desk
