Canara Bank net up 53 percent in third quarter

January 23rd, 2009 - 3:40 pm ICT by IANS  

Bangalore, Jan 23 (IANS) State-run Canara Bank posted net profit of Rs.7.02 billion (Rs.702 crore/$142.6 million) for the third quarter this fiscal, registering a whopping 53 percent year-on-year (YoY) growth. Net profit in the corresponding period in 2007-08 was Rs.4.59 billion, the bank said in a statement Friday.

Total income for the quarter under review increased to Rs.53.83 billion from Rs.40.96 billion a year ago, a growth of 32 percent.

Interest income increased 30 percent to Rs.46.25 billion in the third quarter from Rs.35.5 billion in the year-ago period.

Interest expended during the quarter is Rs.33.81 billion as against Rs.26.16 billion, an increase of 29 percent.

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