News - May 2017
- 2017-05-23 : BBMP partners with Canara Bank to felicitate easier property tax payments
In a bid to reduce the problems faced by senior citizens while paying their property tax online, Bruhat Bengaluru Mahanagara Palike (BBMP) has announced to collaborate with Canara Bank to make the process of property tax payment easier. For this purpose, BBMP is planning to set up stalls at various locations in the city which will accept property tax payments in cash up to Rs. 25,000 - 2017-05-09 : Canara Bank posts net profit of Rs. 214.18 crore Canara Bank has posted a net profit of Rs. 214.18 crore during the fourth quarter. The bank notifies that the profitability is due to decrease in its cost of deposits to 6.25 per cent from 6.94 per cent last year and increase in non-interest income by 73.25 per cent to Rs.2,396 crore.
- 2017-03-31 : Canara Bank reduces base rate by 10 basis pointsCanara Bank has reduced its base rate by 10 basis points to 9.4 percent from 9.5 percent earlier. All loans and advances related to the current base rate will become cheaper by 10 basis points. The new base rate will be effective from 1st April, 2017.
- 2016-12-08 : Canara Bank cuts MCLR by 15 basis pointsCanara Bank has reduced its overnight and three months marginal cost of lending rate to 8.90 and 9.05 percent from 9.05 and 9.20 percent earlier. The bank has also reduced its six months and one year lending rates by 15 basis points to 9.10 and 9.15 percent from 9.25 and 9.30 percent respectively. Revised rates are effective from 7th December, 2016.
- 2016-07-26 : Canara Bank Q1 profit tanks 52% to Rs 229 crAs per the results of Q1FY17, Canara Bank reported a decline of 52.2 percent in its Net Profit to Rs 229 Crore. Net Interest Income of the bank declined by 8.3 percent to Rs 2,307.4 Crore in the quarter ended June 2016 from Rs 2,516.5 Crore in year-ago period due to weak loan growth. Advances declined by 0.9 percent to Rs 3.21 lakh Crore while deposits declined by 1.4 percent to Rs 4.65 lakh Crore when compared on yoy basis . Other income (non-interest income) increased by 42.4 percent to Rs 1,584.65 crore while operating profit fell 9.2 percent to Rs 1,819 Crore when compared on yearly basis. Provisions for bad loans increased sharply by 76.4 percent sequentially to Rs 1,492.92 crore but increased 9.8 percent on yearly basis. Asset quality showed sign of weaking as Gross NPA increased 31 basis points sequentially to 9.71 percent and Net NPA increased by 27 basis points to 6.69 percent in June quarter.
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