State-owned Canara Bank
's first quarter (April-June) net profit rose at a slower pace by 7%
year-on-year to Rs 775 crore.
The net interest income (NII) or the difference between interests
earned and paid out inched up 3% from a year back at Rs 1,844 crore. An
increase in bad assets primarily dented the profit margin due to higher loan
provisions.
The bank's gross non-performing asset (NPA) ratio
deteriorated to 1.98% at Rs 4,497 compared with 1.73% in the Jan-March quarter.
Similarly, its net NPA ratio increased from 1.46% to 1.66% at Rs 3,756 crore
during the three-month period.
However, provisions (other than tax) & contingencies
rose to Rs 462 crore as against Rs 419 crore. This could be due to reversal of
investment provisions or some other write back of provisioning.
The bank's capital adequacy ratio is at Rs 13.22% versus
13.76%, in the previous quarter.
Source: www.moneycontrol.com
Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd 
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