BackCanara Bank Q4 profit surges 55% to Rs719 cr
Canara Bank Q4 profit surges 55% to Rs719 cr
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Mumbai: State-run Canara Bank on Wednesday posted a 54.89% rise in net profit to Rs718.81 crore in the fourth quarter ended 31 March 2009, against Rs464.06 crore in the same period of FY08.
The total income rose 18.38% to Rs19,430.27 crore during the March quarter from Rs16,413.60 crore in the same period last fiscal, Canara Bank said in a filing to the Bombay Stock Exchange (BSE).
The board has declared a dividend of 80% at the rate of Rs8 on shares of face value of Rs10 each for FY09.
During the March quarter, the bank’s interest income rose 23% to Rs4,653 crore, while the interest expended was at Rs3,348.55 crore, up 17% over the year-ago period.
For the fiscal year ended 31 March 2009, Canara Bank reported a net profit of Rs2,072.42 crore, a growth rate of 32.42% over Rs1,565.01 crore a year ago.
Shares of Canara Bank were trading at Rs192.75, up 4.33% in the late afternoon trade on the BSE.
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