Canara Bank Q1 profit surges 75 pc

NEW DELHI: State-owned Canara Bank on Monday reported a 75 per cent rise in net profit at Rs 3,535 crore in the June quarter, helped by decline in bad loans and growth in interest income.

The Bengaluru-based lender had posted a net profit of Rs 2,022 crore in the year-ago period. Total income in the first quarter of the current fiscal rose to Rs 29,828 crore, from Rs 23,352 crore in the same period a year ago, Canara Bank said in a regulatory filing. Interest earned by the bank improved to Rs 25,004 crore over Rs 18,177 crore in June 2022.