Canara bank Q4 profit slips 30%

Canara bank Q4 profit slips 30%





Bangalore: State-run Canara Bank posted a net profit of Rs.503 crore for the fourth quarter (January-March) of fiscal 2009-10, registering 30 percent decline year-on-year (YoY) from Rs.719 crore in the corresponding period of the previous fiscal. In a regulatory filing Wednesday, the bank said its total income for the quarter under review, however, remained flat at Rs.5,507 crore as against Rs.5,500 crore in the corresponding period a year ago.

For the entire fiscal (FY 2010), net profit, however, shot up 46 percent to Rs.3,021 crore from Rs.2,072 crore in FY 2009.

Total income grew modestly 11.2 percent to Rs.21,610 crore from Rs.19,430 crore year ago.

The bank's net interest income (NII) in Q4 increased 22.4 percent YoY to Rs.1,598 crore from Rs.1,305 crore in the corresponding period a year ago.

The bank's board of directors recommended 100 percent dividend or Rs.10 for each share of Rs.10 par value for fiscal 2010.

-IANS













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