Canara Bank, a leading nationalized bank is expected to achieve 17-18% growth in its total loan book this fiscal against the current national average of 16%. The bank had achieved credit growth of 16.4% in the previous fiscal, when the industry average was at 14.9%. Its agriculture, MSME sector and retail loan portfolio is expected to increase significantly, at around 35%. The lender is likely to achieve infrastructure loan growth beyond 10%, while corporate sector loans too may grow at a relatively slower pace at 12-15%.
On standalone basis, the bank has posted a rise of 2.17% in its net profit at Rs 792.07 crore for the quarter ended June 30, 2013 as compared to Rs 775.24 crore for the same quarter in the previous year. Total income has increased by 14.65% at Rs 10507.88 crore for quarter under review as compared to Rs 9165.47 crore for the quarter ended June 30, 2012.
On standalone basis, the bank has posted a rise of 2.17% in its net profit at Rs 792.07 crore for the quarter ended June 30, 2013 as compared to Rs 775.24 crore for the same quarter in the previous year. Total income has increased by 14.65% at Rs 10507.88 crore for quarter under review as compared to Rs 9165.47 crore for the quarter ended June 30, 2012.
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