State-owned Canara Bank on Tuesday reported a standalone revenue of Rs 1,010.87 crore for the fourth quarter ended March 2021 as provision for dangerous loans declined.
The financial institution had posted a web lack of Rs 3,259.33 crore throughout the corresponding January-March 2020 quarter.
Complete revenue on a standalone foundation throughout January-March rose to Rs 21,522.60 crore as in opposition to Rs 14,222.39 crore within the year-ago interval, Canara Bank stated in a regulatory submitting.
The lender’s provision for non-performing belongings (NPAs) declined to Rs 4,427.53 crore for the March 2021 quarter in comparison with Rs 4,875.28 crore parked apart within the corresponding interval of 2019-20.
For the total 2020-21, there was a revenue of Rs 2,557.58 as in opposition to the lack of Rs 2,235.72 crore throughout 2019-20.
On the asset high quality, gross NPAs continued to stay at an elevated degree of 8.93 per cent on the finish of March 2021, barely increased than 8.21 per cent by the tip of March 2020.
In worth phrases, the gross NPAs or dangerous loans of the financial institution surged to Rs 60,287.84 crore as of March 31, 2020, vis-a-vis Rs 37,041.15 crore within the year-ago interval.
Internet NPAs have been, nonetheless, trimmed considerably to three.82 per cent (Rs 24,442.07 crore) from 4.22 per cent (Rs 18,250.95 crore).
It’s to be famous that the amalgamation of Syndicate Financial institution into Canara Bank was effected on April 1, 2020.
“Figures of the quarter ended March 31, 2020, and 12 months ended March 31, 2020, are associated to standalone Canara Financial institution financials of the pre-amalgamation interval, therefore not comparable with submit amalgamation financials for the quarter ended March 31, 2021, and 12 months ended March 31, 2021,” it stated.
Provision protection ratio as of March 31, 2021, stood at 79.68 per cent, in comparison with 75.86 per cent a 12 months in the past, it stated.
The capital adequacy ratio of the financial institution stood at 13.18 per cent as of March 2021. Out of which Tier-I is 10.08 per cent and Tier-II is 3.10 per cent, it stated.
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