Canara Bank stock split: Canara Bank board will consider stock split on February 26.
The approval of the company’s board of directors for the stock split is subject to prior approval of the Reserve Bank of India (RBI) and other statutory or regulatory approvals, the filing added.
Canara Bank stock closed at Rs 522 on the NSE on Tuesday, up Rs 1.75 or 0.34 per cent from its previous close.
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The state-owned bank reported a 29 per cent rise in revenue to Rs 3,656 crore in the third quarter ended December 2023. The bank had posted a net profit of Rs 2,832 crore in the same quarter a year ago. Total income rose to Rs 32,334 crore during the quarter under review, compared to Rs 26,218 crore in the same period last year, Canara Bank said in a regulatory filing.
During the quarter, the bank’s net interest income rose 9.5 per cent to Rs 9,417 crore. On asset quality, the bank said gross non-performing assets (NPAs) have reduced to 4.39 per cent of total loans by the end of December 2023. 5.89% a year ago. Total income rose to Rs 32,334 crore during the quarter under review compared to Rs 26,218 crore in the same period last year, Canara Bank said in a regulatory filing.
Similarly, net NPAs or bad loans decreased from 1.96% to 1.32% at the end of the third quarter of the previous fiscal.
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