Canbank posts 5.41 pc growth in PAT

Bangalore, Apr 19 (UNI) Canbank Factors Limited, a subsidiary of the Canara Bank, has posted a profit after tax (PAT) of Rs 13.25 crore for the year ended March 2006, registering a 5.41 per cent growth, as against Rs 12.57 crore in the corresponding period the previous year.

A Canbank release here today said excluding the extraordinary income, the increase in PAT would be 13.45 per cent.

The company's factoring volume stood at Rs 2592.44 crore as against Rs 2026.38 crore, recording a 27.93 per cent growth for the period.

A stupendous growth of 45.08 per cent was witnessed in funds deployed in the business (Funds-In-Use) as it stood at Rs 586.36 crore during the period as against Rs 404.17 crore in the corresponding period the previous year, the release added.

UNI RG GM1658