Recording over two-fold jump in its net profit in fiscal year ended March 2022, Canara Bank aims to improve its bottom line further with balanced focus on advances to retail, big and small businesses, coupled with greater focus on digitisation.
During 2021-22, the state-owned lender recorded a robust growth of 122 per cent in its net profit at Rs 5,678 crore, with operating profit rising by over 17 per cent to Rs 23,089 crore.
It had earned a net profit of Rs 2,558 crore in the preceding fiscal year ended March 2021.
The challenges emanating from the global macro scenario reflected on the domestic economy, leading to a slowing down of the growth momentum of the Indian economy. However, there are positive signals for aggregate demand with consumer and business confidence picking up, Canara Bank managing director L V Prabhakar said.
