Custom Search

Wednesday, November 7, 2012

Canara Bank Q2 profit dips 22% as non-interest income slips

Decrease in non-interest income dragged Canara Bank’s profit 22.44 per cent to Rs 660.97 crore in the second quarter of this fiscal.

While the bank’s revenues grew 9.08 per cent to Rs 9,203.61 crore compared with the same period last year, EPS fell to Rs 14.92 from Rs 19.24.

“During the quarter, the bank’s performance was affected by a drop in non-interest income (commission) by Rs 215 crore, flat net interest income and provisioning for non-performing assets,” said Ashok Kumar Gupta, Executive Director.

The operating profit before provisions and contingencies declined by 19.86 per cent to Rs 1,282.09 crore (from Rs 1,599.87 crore last year). Revenues from treasury operations stood at Rs 2,537.54 crore (Rs 1,932.62 crore), retail banking Rs 2,487.18 crore (Rs 2,345.30 crore) and wholesale banking Rs 4,133.04 crore (Rs 4,000.80 crore). The bank’s asset quality worsened, with gross NPA ratio at 2.58 per cent (1.75 per cent) and net NPA ratio, 2.12 per cent (1.42 per cent). Return on assets (RoA) was down at 0.71 per cent (1.01 per cent).

Net interest income (NII) for the quarter was flat at Rs 1,957 crore (Rs 1,962 crore, and) net interest margin (NIM) stood at 2.35 per cent (2.51 per cent).

Advances too were flat at Rs 2,15,751 crore (Rs 2,16,085.42 crore). Deposits grew 7.98 per cent to Rs 3,36,761.62 crore (Rs 3,11,857.91 crore).

The bank’s CASA deposits rose 3.44 per cent to Rs 83,556 crore.

Savings bank deposit increased by 10.07 per cent to Rs 7,0494 crore.

anil.u@thehindu.co.in

0 comments:

Post a Comment

Popular Posts

 
Desi Google | A2Z Famous Quotes | What's Cooking America | Joke Site