Canara Bank Q4 net rises to Rs 611 crores; NPAs fall

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PSU banking major Canara Bank today reported a good set of Q4 numbers with net profits rising to Rs 611 crores, as against Rs 409 crores for the quarter ended December 31, 2013.

Non performing assets at the bank showed a welcome decline with gross non performing assets as on March 31, 2014 falling to 2.49 per cent, as against 2.69 per cent reported as on Dec 31, 2013.

Similarly, net non performing assets also fell to 1.98 per cent from 2.39 per cent.

The board of the bank has recommended a final dividend of Rs 4 per share. The stock of Canara Bank rallied 7.55 per cent in trade.

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