Canara Bank Posts Rs 552 Cr Loss in Q4

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State-run major Canara Bank reported a lower Rs 552-crore standalone net loss for the fourth quarter (January-April) of the fiscal 2018-19 as compared to the Rs 4,860 crore net loss in the same period a year ago.

The bank had posted Rs 318 crore standalone profit for the previous, or third, quarter (October-December).

In a regulatory filing on the BSE, the city-based bank said the standalone total income for the quarter (Q4) under review increased 21 per cent annually to Rs 14,000 crore, from Rs 11,555 crore in the same period a year ago, and by 3.6 per cent sequentially from Rs 13,513 crore a quarter ago.

“Interest earned for the quarter increased 18.7 per cent annually to Rs 12,139 crore from Rs 10,223 crore in the like period a year ago but flat sequentially from Rs 12,189 crore a quarter ago,” said the filing.

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