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Canara Bank's net loss widens to Rs 3,259 cr in Q4 on back of provisioning

The bank had registered a net loss of Rs 551.53 crore during the corresponding January-March 2019 quarter

Canara Bank
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In value terms, the gross NPAs or bad loans of the bank stood at Rs 37,041.15 crore as on March 31, 2020, vis-a-vis Rs 39,224.12 crore in the year-ago period

Press Trust of India New Delhi
State-owned Canara Bank on Wednesday reported widening of its standalone net loss to Rs 3,259.33 crore for the fourth quarter ended March 2020.

The bank had registered a net loss of Rs 551.53 crore during the corresponding January-March 2019 quarter.

However, income on a standalone basis during January-March rose to Rs 14,222.39 crore, compared with Rs 14,000.43 crore in the year-ago period, Canara Bank said in a regulatory filing.


The lender made a huge provisioning of Rs 5,375.38 crore for the March