Today public sector lender Canara Bank announced the quarterly results for March 2024 and said that its profit surged 18 percent to ₹3,757 crore compared to ₹3,174 crore in the same quarter of the same year. Net interest income (NII) for the reporting quarter increased 11% year-on-year (YoY) to Rs 9,580 crore. Net interest margin (NIM) came in at 3.05 per cent.The psb’s board also recommended a dividend of ₹16.10 per equity share  – i.e. 161 percent – of face value of ₹10 each to the shareholders for 2023-24.

As per the reports the bank said that its gross NPA (%) came in at 4.23 per cent against 4.39 per cent in December and 5.35 per cent in the year-ago quarter. Operating margin came in at 21.71 per cent against 21.05 per cent in December and 25.28 per cent in the yea-ago quarter.

Canara Bank said its annualized return on asset on asset stood at 1.03 per cent against 1.01 per cent in December and 0.95 per cent in the year-go quarter.

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