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Canara Bank comes out of red by earning net profit of Rs 2557 cr in 2020-21

The Bank's Net Profit in the fourth quarter stood at Rs.1010 crore as against Net Loss of Rs.6567 crore.

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Bengaluru: Public lender Canara Bank has earned a net profit of Rs 2557 crore in the year ended March 31-2021 as against the net loss of Rs 5838 crores for FY 20 and the Operation profit has reached a new horizon at Rs 20009 crore, grew by 55.93 per cent.

The Bank’s Net Profit in the fourth quarter stood at Rs.1010 crore as against Net Loss of Rs.6567 crore. The Operating Profit grew by 136.40 per cent. Net-Interest Income has grown by 9.87 per cent. Non-Interest Income grew by 72.08 per cent. Cost to Income Ratio improved by 2285 bps.

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The Global Business has increased by 8.23 per cent (y.o.y) to Rs.1686030 crore as of Mar 2021 with Global Deposits at Rs.1010875 crore 11.50 per cent (y.o.y) and Global Advance (gross) at Rs.675155 Cr 3.68 per cent (y.o.y)

Domestic Deposit of the Bank stood at Rs.963306 crore as at Mar 2021 with growth of 10.74 per cent (y.o.y) Domestic Advances (gross) of the Bank stood at Rs.652558 crore as at Mar 2021 with growth of 5.51 per cent (y.o.y).

Advances to Agriculture grew by 17.44 per cent (y.o.y) to Rs.156058 Cr as of Mar 2021

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