INSUBCONTINENT EXCLUSIVE:
Gross bad loans as a percentage of total loans was 11.05 per cent at end-June.State-run Canara Bank Ltd reported a surprise 11.9 per cent
rise in first-quarter net profit on higher interest income while its bad-loan provisions increased slightly
Net profit was Rs 281 crore ($40.9 million) for the three months ended June 30, compared with Rs 252 crore a year ago, the bank said in a
Eight analysts on average had expected a loss of Rs 1,096 crore, according to Thomson Reuters I/B/E/S.Gross bad loans as a percentage of
total loans was 11.05 per cent at end-June, lower than 11.84 percent three months earlier, but still higher than 10.56 per cent a year
ago.The bank reported mark-to-market losses of Rs 151 crore in the quarter as it opted to spread bond losses over four quarters as allowed
