Home / Companies / News / Canara Bank posts Rs 48.6 bn Q4 loss as NPAs triple to Rs 87.6 bn

Canara Bank posts Rs 48.6 bn Q4 loss as NPAs triple to Rs 87.6 bn

Gross bad loans as a percentage of total loans rose to 11.84% at end-March

Canara Bank alleges Rs 5 bn fraud by Kolkata-based R P Infosystems

premium

Canara Bank said it was filing a complaint after it was authorised by a consortium of lenders

Last Updated : May 11 2018 | 4:55 PM IST

Canara Bank Ltd on Friday posted a huge loss for the fourth quarter, hurt by higher provisions for bad loans.

Net loss was Rs 48.60 billion ($722.57 million) for the three months ended March 31, compared with a profit of Rs 2.14 billion a year ago, the state-run bank said in a statement.

Provisions for non-performing assets almost tripled to Rs 87.63 billion.

Gross bad loans as a percentage of total loans rose to 11.84 per cent at end-March, compared with 10.38 per cent in the preceding quarter and 9.63 per cent a year ago.