The state-owned Canara Bank posted a 90 per cent increase in net profit to ₹3,175 crore during the fourth quarter of FY23, compared to ₹1,969 crore in the same quarter last year.
During the fourth quarter, Net Interest Income (NII), which is the difference between interest earned and interest spent, increased 23% year-on-year to ₹8,616 crore compared to ₹7,006 crore in the corresponding quarter. from last year.
The Board of Directors has recommended a dividend of Rs 12.00 per equity share (120 per cent) for the year ending 31 March 2023, subject to required approvals, up from 65 per cent last year.
asset quality
In terms of asset quality, the Gross Non-Profit Assets (GNPA) ratio decreased to 5.35% from 7.51% as of March 2022. The Net Non-Profit Assets (NNPA) ratio decreased to 1. 73% as of March 2022. March 2023, down from 2.65% in March 2022.
The bank’s global business increased by 11.72% yoy to ₹20,41,764 crore with global deposits at ₹11,79,219 crore (8.54% yoy) and global advance (gross) at ₹8,62,782 crore (16.41 % YoY).
The bank’s internal deposit stood at Rs 10,94,746 crore, growing 6.52% YoY, and internal advances (gross) stood at Rs 8,17,762 crore in March 2023, growing YoY of 15.01%. .
Its gold loan grew by 33.82% with a portfolio amount of ₹123,185 crore and RAM credit grew by 13.23% constituting 55% of total advances while retail credit grew 10.91% with housing loans at 14.27%. .
As of March 31, 2023, the bank has 9,706 branches, of which 3,048 are rural, 2,742 semi-urban, 1,991 urban, and 1,925 metropolitan, in addition to 10,726 ATMs. The bank also has three offshore branches in London, New York and Dubai.