Canara Bank Q4 net up 65% to Rs 1,666 cr on better net interest margins

Lender to raise up to Rs 9,000 cr in capital via AT1, tier-II bonds

Public sector lender Canara Bank posted a 64.9 per cent year-on-year rise in net profit to Rs 1,666.2 crore in the fourth quarter ended March 2022 (Q4FY22), on improvement in net interest margins.

It had posted a net profit of Rs 1,010.4 crore in Q4FY21.

For FY22, the net profit rose by per cent to  Rs 5,678.4 crore from Rs 2,557.5 crore in FY21.

Recommend Dividend of Rs 6.50 per equity share (of face value of Rs. 10) for 2021-22 subject to shareholders nod.

The Bengaluru-based lender’s net interest income (NII) expanded by 24.84 per cent increased to Rs 7,005