Interest income fuels Canara profit

BANKING SCORECARD

Buoyed by strong growth in interest income and advances portfolio, Canara Bank registered a rise of 26 per cent in its net profit to Rs 241 crore in the first quarter ended June 30 compared with to the corresponding period a year ago.

Operating profit for the quarter went up marginally by 6.49 per cent to Rs 612.07 crore compared with the same period last year. The bank made a provision of Rs 372 crore towards non-performing assets (NPAs) and taxes.

The bank's total income recorded 36 per cent growth to touch Rs 3,760.07 crore compared with that of the first quarter last year.

The interest income for the period went up by 34.5 per cent to Rs 3,379.97 crore.