Canara bank has jumped to a net profit of Rs 1,011 crore in the March quarter this year, as compared to the net loss of Rs 3,259 crore last year in the same quarter. The bank’s net interest income witnessed a rise to 68.45, i.e., to Rs 5,589 crore as against Rs 3,318 crore last year.
Well, the bank has said that it has been analyzing and evaluating the prevailing Covid-19 catastrophe carefully. The bank has identified the challenges arising out of the pandemic which includes the erosion of cash flows and extended capital cycle.
Though, in spite of the current challenges, the Canara bank management reckons that there are no specific adjustments required in the financial results as it hasn’t been significantly affected.
It adds that despite the current situation and occurring, there will not be any significant impact on the bank’s results in the future.
