Canara Bank net profit up 34%

Mumbai: Leading public sector lender Canara Bank today reported a 34.48 per cent rise in its consolidated net profit to Rs 4,034.19 crore for the year-ended March 31, 2011.

The bank had a net profit of Rs 2,999.7 crore in the corresponding period of the previous year, it said in a filing on the Bombay Stock Exchange (BSE).

Total income of the Bangalore-headquartered bank on a consolidated basis improved 18.92 per cent to Rs 25,792.6 crore as at March 2011, as against Rs 21,687.89 crore in the year-ago period.

Total deposits during the period grew 25.27 per cent to Rs 2,93,793.92 crore and advances 25.48 per cent to Rs 2,12,647.38 crore.

Canara Bank's shares were trading up 0.79 per cent at Rs 534.35 on the BSE.

Source: Financial Express