During the June quarter last year, Canara Bank had amalgamated Syndicate Bank into itself with effect from April 1, 2020.
Total income in the April-June increased marginally to Rs 21,210.06 crore, from Rs 20,685.91 crore in the year-ago period, Canara Bank said in a regulatory filing.
The bank’s gross non-performing assets (NPAs) declined slightly at 8.50 per cent of the gross advances as on June 30, 2021 as against 8.84 per cent at June-end last year.
Net NPA ratio too fell to 3.46 per cent, from 3.95 per cent in the same quarter a year ago.
As a result, provisions and contingencies for the first quarter came down to Rs 3,728.52 crore as compared to Rs 3,826.34 crore in the year-ago period.
Of this, provisions for NPAs significantly reduced to Rs 2,334.88 crore, as against Rs 3,549.99 crore a year ago.
The Provision Coverage Ratio (PCR) improved to 81.18 per cent as at June 2021, from 78.95 per cent as at June 2020, the bank said in a statement.
Capital adequacy ratio of the bank stood at 13.36 per cent as at June 2021. Out of which Tier-I is 10.34 per cent and Tier-II is 3.02 per cent, it said.
The bank said it plans to raise Rs 9,000 crore through a mix of debt and equity to enhance capital base to fund its business growth during the current fiscal.
