Canara Bank, on Wednesday, said its net profit for the first quarter of the current year rose by 26 per cent to Rs 241 crore, compared to Rs 191 crore for the same quarter a year ago. The net profit is after making a total provision of Rs 372 crore.
Briefing media here, M B N Rao, CMD, Canara Bank, said that the bank’s operating profit for the quarter ended June 30, 2007,  rose to Rs 612 crore, compared to Rs 575 crore during the corresponding quarter a year ago.
Mr Rao also said that the bank’s total income recorded over 36 per cent growth to reach Rs 3760 crore, compared to Rs 2755 crore in Q1 of  the previous year. The bank’s global business clocked a 17 per cent year on year growth of Rs 2,37,866 crore as on June 2007 as against Rs 2,03,272 crore on June 2006. The aggregate business, Mr Rao said, was driven by a 16 per cent growth in deposits and 18 per cent growth in advances.