Canara Bank Q2 net profit grows 43 pc to Rs 3,606 cr

New Delhi, Oct 26 (PTI) Canara Bank on Thursday reported a 43 per cent rise in net profit to Rs 3,606 crore during the September quarter on higher interest income and lower provisioning.

The bank posted a net profit of Rs 2,525 crore in the July-September quarter of 2022-23 fiscal.

The Bengaluru-based public sector bank’s net interest income grew 19.76 per cent to Rs 8,903 crore.

The bank’s total provisioning came down to Rs 2,608 crore during the September quarter, from Rs 3,637 crore in the year-ago period.

Gross non-performing assets declined to 4.76 per cent of total loans in the second quarter of the current fiscal over 6.37 per cent in the September quarter of the last fiscal.

Shares of Canara Bank were trading 1.97 per cent higher at Rs 360.50 apiece on the BSE.