<p>Bengaluru-based public sector lender Canara Bank on Monday reported a marginal 0.34 per cent rise in net profit at Rs 612.96 crore for the fourth quarter ended March 31, 2015, on account of rise in NPAs (non-performing assets). <br /><br /></p>.<p>The bank had net profit of Rs 610.83 crore in the corresponding quarter last year.<br />The bank’s total income went up seven per cent to Rs 12,429.21 crore compared with Rs 11,609.72 crore a year ago, Canara Bank said in a filing to the BSE. The operating profit (before provisions and contingencies) declined by 7.9 per cent to Rs 1,732.53 crore compared with Rs 1,882.10 crore. <br /><br />Net Interest Income (NII), or the difference between interest earned on loans and the interest paid on deposits, stood at Rs 2,486.14 crore in the fiscal fourth quarter, a decline of 1.93 per cent from Rs 2,535.19 crore.<br /><br />The public sector lender’s other income rose 23.9 per cent to Rs 1,325.81 crore compared with Rs 1,070.04 crore.<br /><br />Reflecting continued stress in the asset quality at the industry level, gross non-performing assets (NPAs) ratio increased to 3.89 per cent compared with 2.49 per cent, and net NPAs increased to 2.65 per cent from 1.98 per cent.<br /><br />However, for the full fiscal 2014-15, the bank’s net profit rose by 10.8 per cent to Rs 2,702.63 crore as compared with Rs 2,438.19 crore in the previous fiscal.<br /><br />“We have adequate headroom available to raise capital to support business growth momentum. The bank is in need of raising around Rs 3,000 crore to achieve a credit growth rate of 15 per cent during the current financial year. We, however, have not taken a decision as to when to raise the capital. We are open to all instruments,” Canara Bank Executive Director P S Rawat, who also has the additional charge of MD and CEO, said.<br />The bank declared a final dividend of 105 per cent (Rs 10.50 per share).<br />DH News Service</p>
<p>Bengaluru-based public sector lender Canara Bank on Monday reported a marginal 0.34 per cent rise in net profit at Rs 612.96 crore for the fourth quarter ended March 31, 2015, on account of rise in NPAs (non-performing assets). <br /><br /></p>.<p>The bank had net profit of Rs 610.83 crore in the corresponding quarter last year.<br />The bank’s total income went up seven per cent to Rs 12,429.21 crore compared with Rs 11,609.72 crore a year ago, Canara Bank said in a filing to the BSE. The operating profit (before provisions and contingencies) declined by 7.9 per cent to Rs 1,732.53 crore compared with Rs 1,882.10 crore. <br /><br />Net Interest Income (NII), or the difference between interest earned on loans and the interest paid on deposits, stood at Rs 2,486.14 crore in the fiscal fourth quarter, a decline of 1.93 per cent from Rs 2,535.19 crore.<br /><br />The public sector lender’s other income rose 23.9 per cent to Rs 1,325.81 crore compared with Rs 1,070.04 crore.<br /><br />Reflecting continued stress in the asset quality at the industry level, gross non-performing assets (NPAs) ratio increased to 3.89 per cent compared with 2.49 per cent, and net NPAs increased to 2.65 per cent from 1.98 per cent.<br /><br />However, for the full fiscal 2014-15, the bank’s net profit rose by 10.8 per cent to Rs 2,702.63 crore as compared with Rs 2,438.19 crore in the previous fiscal.<br /><br />“We have adequate headroom available to raise capital to support business growth momentum. The bank is in need of raising around Rs 3,000 crore to achieve a credit growth rate of 15 per cent during the current financial year. We, however, have not taken a decision as to when to raise the capital. We are open to all instruments,” Canara Bank Executive Director P S Rawat, who also has the additional charge of MD and CEO, said.<br />The bank declared a final dividend of 105 per cent (Rs 10.50 per share).<br />DH News Service</p>
