Canara Bank's Q4 pre-tax loss widens to Rs 3,334.5 cr as staff costs rise

Drop in NII adds to impact, lender plans to raise 6,000-8,000 cr in capital in FY21

Public sector bank Canara Bank posted a pre-tax loss of Rs 3,334.5 crore for the fourth quarter ended March 31, 2020 (Q4FY20) on a decline in net interest income and higher employee costs.

The lender had posted a pre-tax loss of Rs 2,550 crore in same quarter of 2018-19 (Q4Fy19).

The Bengaluru-based bank posted net loss of Rs 3,259.3 crore in Q4FY20 compared to net loss of Rs 551.5 crore in Q4FY19.

For FY20, it booked net loss of Rs 2,235.7 crore as