Canara Bank reports 15% fall in Q2 net profit

Canara Bank has reported results for the second quarter ended September 30, 2011.

The bank’s net profit for the second quarter of the current fiscal has declined 15.44% at Rs 852.22 crore as compared to Rs 1007.88 crore for the corresponding quarter of the last year. The bank’s total income has surged 38.93% at Rs 8442.73 crore for the quarter under review as compared to Rs 6077.06 crore for the second quarter of the previous year.

The banks’ gross NPA stood at 1.73% for the quarter ended September 30, 2011 as compared to 1.49% in the quarter ended September 30, 2010. Its net NPA also rose at 1.43% in Q2FY12 as compared to 1.06% in Q2FY11. Further, the bank’s Return on Assets (ROA) has declined to 1.01% for the quarter from 1.52% in the similar quarter of the last year.