Bank of Baroda has pipped Canara Bank in terms of net profit and total business for FY09 to become the third largest public sector player in India. Mumbai-based BoB’s net profit for 2008-09 stood at Rs 2,227 crore, about Rs 155 crore higher than that of Canara Bank in FY09.
Bangalore-based Canara Bank’s net profit grew by 32 per cent to Rs 2,072 crore during the fiscal against Rs 1,565 crore in 2007-08.
Total business of BoB stood at Rs 3,36,383 crore at the end of FY09, about Rs 11,000 crore higher than its closest competitor in the same financial year.
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