Tuesday, September 8, 2009

Canara Bank Net Profit Declines QoQ

Is there anything hiding behind Canara Bank’s 352.7% YoY rise in net profit?

Unlike some of its peers, it is not just stupendous treasury income, or the corresponding last quarter’s poor performance. The sequential or QoQ growth has been, in fact, a de-growth of 22.7% at Canara Bank.

Though suffering from an exposure to the troubled carrier Air India, Canara Bank continues to be approached by the likes of Tata to help with their JLR blunder in UK.

Canara Bank’s recent changes in their home loan procedures have attracted flak for making customers run from pillar-to-post - architect-to-evaluator-to-contractor - multiple times.

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