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Canara Bank reported a strong performance in Dec 2023, with a 27 per cent increase in net income to Rs 3,659 crore. The rise was attributed to lower credit costs, higher interest income, and improved asset quality. ....
Total income, however, fell marginally to Rs 21,312 crore during the October-December period of 2021-22, against Rs 21,365 crore in the same quarter of 2020-21, Canara Bank said in a regulatory filing. ....
Canara Bank Stock Price Slips After Q3 Profit Falls 9% YoY To Rs 696 Crore moneycontrol.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneycontrol.com Daily Mail and Mail on Sunday newspapers.
Sluggish loan growth, low other income, and delayed resolution of stressed assets maylead to a precarious financial position for public sector banks (PSBs) duringthe December quarter of FY21 (Q3FY21), caution analysts. We estimate weakness to continue in PSBs, barring State bank of India, impacted bysluggish loan growth, a higher proportion of MSME/SME loans, and delay in theresolution of stressed accounts, said analysts at Motilal Oswal FinancialServices (MOFSL) in a sector report. Those at Emkay Global, on the other hand, say that the Supreme Court s stay on NPA tagging remains an irritant in Q3, and may lead to optically elevated proforma slippages due to the spill-over from Q2FY21. That said, overall NPA formation, as well as restructuring proposals, are meaningfully lower than expected though one needs to be watchful of the tail-end risk, it added. ....