Canara Bank Q4 net up 79% at Rs 898 cr

Posted By: Religare
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Canara Bank Q4 net up 79% at Rs 898 cr
Net profit of the quarter ended March 31, 2011 has been recorded by Canara Bank, a financial conglomerate in India. The Bangalore-based bank announced its fourth-quarter net profit of Rs.898.80 crore or Rs.20.76 per share, compared with Rs.503.10 crore or Rs.12.27 per share reported for the corresponding period during the previous year. The growth witnessed by the bank in its net profits was about 79% and on the other side the growth seen in the earnings per share of the company stood around 69%.

During the quarter, total stand-alone income amounted to Rs.7,350.59 crore from the Rs.5,506.72 crore in the prior-year quarter, reflecting a 33.48% growth. For the current fiscal year, the bank reported a stand-alone net profit of Rs.4,025.89 crore that is an increase by 33 % when compared to its net profit figures of Rs.3,021.43 crore which stood a year ago. Total income of the bank for April- March 2011 period came around Rs.25,767.05 crore, which when compared with Rs.21,609.86 crore which existed last year, reflected an increase of 19.24%.

Canara Bank is a state-owned financial services company in India. It was established in 1906, making it one of the oldest banks in the country. As on 2009 November, the bank had a network of 3057 branches, spread across India. The bank also has offices abroad in London, Hong Kong, Moscow, Shanghai, Doha, and Dubai.

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Story first published: Friday, May 6, 2011, 9:30 [IST]
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