Canara Bank, a state-owned entity, announced strong financial results for Q3 2023, with net income surging nearly 27% to Rs 3,659 crore. The Bengaluru-based lender surpassed its net interest income target, achieving a 9.50% increase to Rs 9,417 crore. The notable performance was attributed to lower credit costs, with a significant decline to 0.97%, reflecting 24 basis points improvement. Canara Bank’s CEO, K Satyanarayana Raju, highlighted the positive financial outcomes during a press briefing.
Canara Bank Posts Robust Q3 2023 Results: Net Income Surges 27% to Rs 3,659 Crore
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