Canara Bank posts 12% increase in Q3 net profit
Canara Bank on Monday reported 12.25% year-on-year growth in net profit for the third quarter ended December 31, 2024 at ₹4,104 crore. Its global business stood at ₹24,19,171 crore, grew by 9.30%; global deposits stood at ₹ 13,69,465 crore, grew by 8.44% and gross advances stood at ₹10,49,706 crore, grew by 10.45%. Credit to small and marginal farmers stood at 14.35% of ANBC, against the norm of 10.00%; credit to weaker sections stood at 20.43%, against the norm of 12.00%; credit to micro enterprises stood at 10.23%, against the norm of 7.50% and credit to non-corporate farmers stood at 17.12% of ANBC, against the norm of 13.78%, he said, addressing a media conference. On asset quality, Mr. Raju said, gross non-performing assets ratio improved to 3.34% as of December 2024 from 4.39% in December 2023.
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