Daijiworld Media Network – Bangalore (SP)

Bangalore, May 6: Canara Bank, which posted a net profit of Rs 899 crore during its last quarter of 2010-11, has earned net profit of Rs 4,026 crore during the entire year. The bank’s turn over has crossed five lac crore rupees.

These details were provided by the bank’s chairman and managing director, S Raman, at a press conference held here on Thursday May 5. Releasing the financial results of the bank for the year ended March 31, 2011, he said that the bank’s deposits stand at Rs 2,93,973 crore, and advances, at Rs 2,12,467 crore. The total turnover of the bank as at March end last, stood at Rs 5,06,440 crore. The bank registered a growth of 25.3 percent under deposits and 25.5 percent under advances during the year, he announced. The bank’s net profit saw a jump of 33.2 percent.

The bank has declared a dividend of 110 percent, in view of its excellent performance. The bank aims at reaching a total turnover target of  6.25 lac crore in the next year. 250 new branches are planned to be opened, and number of ATMs will be increased to 4,000 from the current 2,216, he informed.