Canara Bank back in the black in Q4, posts net profit of Rs 1,010 cr

Its net interest income rose to Rs 5,589 crore in Q4FY21 from Rs 5,087 crore in Q4FY20

Public sector lender Canara Bank's net profit for the fourth quarter ended March 2021 (Q4FY21) stood at Rs 1,010 crore as against net loss of Rs 6,567 crore in the same period a year ago.

The net profit for FY21 stood at Rs 2,557 crore as against loss of Rs 5,838 in FY20. For the purpose of comparison, these figures (Q4FY20 and FY20) depict combined performance as if Syndicate Bank had merged with it in FY20. The actual merger with Canara Bank happened in April 2020 and thus, FY21 was the first complete year of the amalgamated entity.

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