Friday, February 8, 2013
Expect credit growth of 10% by March-end: Share Tips Tomorrow
The Canara bank reported 18.80 percent decline in its net profit at Rs. 710.51 crore for the quarter ended December 31, 2012, on account of higher provisioning for bad loans. Meanwhile, it made provisioning for bad loans and contingencies for Rs 625.90 crore for the third quarter, up from Rs 484.48 crore in the year-ago period.
We have total business as on December 31 at Rs 5,42,000 crore. Total deposit is at Rs 3,23,000 crore. Net advances is at 2,18,000 crore. Net profit is at Rs 710 crore. There was less growth in nine months period and net profit is Rs 710 crore. NIM is at Rs 2.36 crore. Capital adequacy ratio is quite good at 12.64 and Tier I capital ratio is at 9.7. These are fresh slippages during the quarter. As against Rs 1,921 crore last quarter that is September quarter and first quarter Rs 1,497 crore. So, total slippages in three quarters is Rs 4,733 crore.