State-run Canara Bank announced its quarterly results on June 24, 2020. Net interest income (NII) of the bank declined by 14.1% yoy and stood at Rs3,519.29cr for Q4FY20 as against Rs4,095.38cr, it reported in Q4FY19. Total income too declined by 2.7% yoy to Rs15,285.27cr in Q4FY20. Canara Bank had reported total Income of Rs15,705.5cr in Q4FY19.
Operating profit for Q4FY20 stood at Rs2,097.52cr, a decline of 33.7% yoy as against operating profit of Rs3,162.86cr in Q4FY19. Provisions and contingencies declined by 4.9% yoy to Rs5,360.47cr in Q4FY20, as against Rs5,637.8cr in Q4FY19.
The bank reported a net loss of Rs3208.31cr for the quarter ending March 2020. The loss posted by the bank in Q4FY19 was at Rs480.71cr.
On the asset quality front bank reported gross non-performing asset (NPA) of Rs37,250.53cr witnessing a growth of 1.1% qoq However, as percentage of gross assets it has declined by 0.16bps in the same period. Net NPA was reported at Rs18,287.72cr in Q4FY20, witnessing a decline of 14.5% qoq. As a percentage of net assets net NPA has declined by 82bps in the same period.
The shares of bank closed at Rs109.45 on BSE in today’s session.
|
Particulars |
Q4FY20(Rs cr) |
Q4FY19(Rs cr) |
Change |
|
Net interest income |
3,519.29 |
4,095.38 |
-14.1% |
|
Operating profit |
2,097.52 |
3,162.86 |
-33.7% |
|
Provisions and contingencies |
5360.47 |
5636.8 |
-4.9% |
|
Net Profit(-Loss) |
-3,208.31 |
-480.71 |
– |
|
Particulars |
Q4FY20 |
Q3FY20 |
Change |
|
Gross NPA (%) |
8.24 |
8.4 |
-0.16bps |
|
Net NPA (%) |
4.23 |
5.05 |
-0.82bps |
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