'A major reason for the rise in net profit was improvement in asset quality', said Shanti Lal Jain
Canara Bank hit a 52-week high of Rs 252.80, after rallying 6% in intra-day trade and 21% in the past four trading days.
In Q3FY22, Canara Bank's asset quality improved with its gross non-performing assets (GNPA) ratio reducing to 7.80 per cent, down from 8.42 per cent as at September 2021.