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Canara Bank's yearly profit soars 34%

Canara Bank's yearly profit soars 34%

Total income of the Bangalore-headquartered bank on a consolidated basis improved 18.92 per cent to Rs 25,792.6 crore as at March 2011, as against Rs 21,687.89 crore in the year-ago period.

Canara Bank on Thursday reported a 34.48 per cent rise in its consolidated net profit to Rs 4,034.19 crore for the year-ended March 31, 2011.

Canara Bank had a net profit of Rs 2,999.7 crore in the corresponding period of the previous year, it said in a filing on the Bombay Stock Exchange (BSE).

Total income of the Bangalore-headquartered bank on a consolidated basis improved 18.92 per cent to Rs 25,792.6 crore as at March 2011, as against Rs 21,687.89 crore in the year-ago period.

Total deposits during the period grew 25.27 per cent to Rs 2,93,793.92 crore and advances 25.48 per cent to Rs 2,12,647.38 crore.