Canara Bank Posted A Lower-Than-Expected Quarterly Net Profit

Express News Global

updated: July 19,2017 16:55 IST

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New Delhi:Canara Bank posted a lower-than-anticipated quarterly net benefit on Wednesday, harmed by higher awful credit arrangements.

Net benefit rose to Rs. 252 crore in its monetary first quarter finished June 30, from Rs. 229 crore a year prior, the nation’s fifth biggest state-run moneylender by resources said.

Experts by and large had expected the Bengaluru-based bank to report a net benefit of Rs. 356 crore, as indicated by Thomson Reuters information.

Arrangements for the quarter rose to Rs. 2,204 crore from Rs. 1,493 crore year prior.

Net awful advances as a rate of aggregate credits rose to 10.56 percent at end-June from 9.63 percent at March-end.