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Canara Bank net profits rise sizably in September 2021 quarter

Canara Bank net profits rise sizably in September 2021 quarter
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Despite hiccup in one large account, Canara Bank was able to report very healthy rise in net profits in Q2FY22 (Pic credit-PTI)

Despite hiccup in one large account, Canara Bank was able to report very healthy rise in net profits in Q2FY22 (Pic credit-PTI)

BENGALURU-headquartered Canara Bank has reported 200 per cent increase in its net profits for the second quarter (Q2) ended September 30, 2021.

Net profit came in at ₹1,333 crore in Q2 against ₹444 crore notched up in the same period in CY2020.

Lower provisions help

The bank was benefitted as the provisions for non-performing assets (NPAs) or dud loans declined to ₹2,678 crore in Q2 against ₹3,533 crore in the same quarter in CY2020.

Another interesting development was that recoveries in written off loans improved in Q2 coming in at ₹715 crore against ₹449 crore in the same period last year.

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Lokmat
Lokmat

At least 48 people killed in tribal conflict in Sudan's Darfur region

At least 48 people killed in tribal conflict in Sudan's Darfur region
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At least 48 people were killed in a tribal conflict in Sudan's West Darfur state, the Central Committee of Sudanese Doctors, a non-governmental organization, said in a statement on Monday.

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Lokmat
Lokmat

IMF chief calls on global cooperation to control pandemic, support economic recovery

IMF chief calls on global cooperation to control pandemic, support economic recovery
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Kristalina Georgieva, managing director of the International Monetary Fund (IMF), on Monday called on global cooperation to control the COVID-19 pandemic and support the economic recovery as the new Omicron variant has spread to over 40 countries around the world.


Read all the latest updates on COVID-19 here.

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