Higher provisioning and treasury losses dragged down Canara Bank’s profits by 15.79 per cent to ₹610.83 crore in the fourth quarter of 2013-14.
The bank’s total income , however, rose 22.57 per cent to ₹11,609.72 crore during the same period. EPS (basic) stood at ₹13.65 (₹16.37).
RK Dubey, the bank’s chairman and managing director, said despite the minor blip, major thrust is being given to CASA, NPA recovery and fee income. “Bank’s profits got affected due to total provision of ₹1,271 crore as compared with ₹972 crore. The provision for NPAs during the quarter was ₹802 crore as against ₹346 crore,” he said.
For the whole year, the bank’s profit was 15.10 per cent lower at ₹2,438.19 crore while total income was up 16.78 per cent at ₹43,480.37 crore.
NII up The bank’s gross non-performing assets (NPA) for Q4 was at ₹7,570.21 crore and percentage of gross NPAs (to advances) stood at 2.49 per cent as against 2.57 per cent last year.
Net NPAs was at ₹5,965.46 crore as against last year’s ₹5,278.07 crore. The percentage of net NPAs was 1.98 per cent as against last year’s 2.18 per cent.
Net interest income (NII) for the quarter 4 increased 21.23 per cent to ₹2,535 crore from ₹2091 crore. Net interest margin (NIM) was lower at 2.27 per cent compared with 2.40 per cent in the corresponding quarter of the previous year.
Provisions and contingencies increased to ₹1,091.27 crore from ₹752.35 crore in the corresponding quarter.
CASA ratio improved to 25.9 per cent as against 25.1 per cent during the same period last year.
Total deposits stood ₹4.20 lakh crore at the end of March 2014 from ₹3.55 lakh crore last year. Advances stood at ₹3.01 lakh crore (₹2.42 lakh crore) and global business touched ₹7.21 lakh crore (₹5.98 lakh crore).
CD ratio of the bank improved to 71.56 per cent as against 68.05 per cent.
Capital adequacy ratio (CAR) according to Basel III norms stood at 10.63 per cent.