Canara Bank Q2 net triples to Rs 1,333 cr on surge in non-interest income

NII shrinks 0.5% to Rs 6,273 cr; asset quality profile is broadly stable

Canara Bank posted a 200 per cent rise in net profit at Rs 1,333 crore in the second quarter ended September 30, 2021 (Q2FY22) on robust growth in non-interest income including revenue from trading and recoveries. The Bengaluru-based public sector lender had posted a net profit of Rs 444 crore a year ago in Q2FY21.

According to the investor presentation, the bank's net interest income (NII) shrank by 0.51 per cent on YoY basis to Rs 6,273 crore in Q2FY22 from Rs 6,305 crore for Q2FY21.

The lender's non-interest income was up 37.54 per cent YoY to Rs 4,268 crore