Canara Bank is expecting loan restructuring in 15 accounts over the next three quarters and would be worth Rs 4000- Rs 5000 crore. The state-owned bank’s Non Performing Assets (NPAs) rose to 2.9% in quarter ended June due to higher slippages. Slippages increased to Rs 2,800 crore in June quarter.
On standalone basis, the bank has posted a rise of 2.17% in its net profit at Rs 792.07 crore for the quarter ended June 30, 2013 as compared to Rs 775.24 crore for the same quarter in the previous year. Total income has increased by 14.65% at Rs 10507.88 crore for quarter under review as compared to Rs 9165.47 crore for the quarter ended June 30, 2012.
