Canara Bank rose 0.98% to Rs 221 after net profit rose 3.81% to Rs 329.62 crore on 3.61% rise in total income to Rs 14,001.63 crore in Q3 December 2019 over Q3 December 2018.
Tax expense surged 223.5% to Rs 201.80 in Q3 December 2019 as compared with Rs 62.38 crore in Q3 December 2018.
The bank's gross non-performing assets (NPAs) stood at Rs 36,644.97 crore as on 31 December 2019 as against Rs 38,711.33 crore as on 30 September 2019 and Rs 44,621.27 crore as on 31 December 2018.
The ratio of gross NPAs to gross advances stood at 8.36% as on 31 December 2019 as against 8.68% as on 30 September 2019 and 10.25% as on 31 December 2018. The ratio of net NPAs to net advances stood at 5.05% as on 31 December 2019 as against 5.15% as on 30 September 2019 and 6.37% as on 31 December 2018.
The bank's provisions and contingencies (excluding tax provisions) declined 8.9% to Rs 1802.91 crore in Q3 December 2019 as against Rs 1977.34 crore in Q3 December 2018.
Provision Coverage Ratio as on 31 December 2019 stood at 70.97% as against 70.11% on 30 September 2019 and 62.54% on 31 December 2018.
The bank's Capital Adequacy Ratio (Basel III) increased to 13.86% in Q3 2019 as against 12.21% in Q3 2018.
Canara Bank is a state-owned commercial bank with headquarters in Bangalore. The Government of India holds a 78.52% stake in Canara Bank as of December 2019.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app