Canara Bank's Q4 net profit increased 18.33% YoY to ₹3,757 crore, driven by interest income growth and provision decline.

Canara Bank's Q4 net profit rose 18.33% year-on-year to ₹3,757 crore, driven by improved interest incomes and a decline in provisions. Net profit for the full fiscal year (FY24) increased 37.25% to ₹14,554 crore from ₹10,604 crore in the previous year. The bank's capital adequacy ratio stood at 16.28%, with common equity Tier-1 at 11.58%. Net interest income expanded by 11.18% to ₹9,580 crore in Q4 of FY24, compared to ₹8,617 crore in the previous year's corresponding period. The board recommended a 161% dividend for FY24, higher than the 120% dividend paid last year.

May 08, 2024
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