Canbank Factors registers 49 per cent growth

Bangalore, Oct 10: Canbank Factors Limited, a subsidiary of Public Sector Canara Bank, has registered a 49 per cent growth in its factoring volume during the first half of the current financial year ending September 30.

The Factoring Volume stood at Rs 1686.02 crore as against Rs 1162.04 crore in the corresponding period previous year, according to a release here.

The funds deployed in the business saw an impresive increase of 68.91 per cent to Rs 755.92 crore as against Rs 447.54 crore in the corresponding period last year.

The Profit Before Tax and Profit After Tax registered a rise of 25.83 per cent 26.03 per cent and stood at at Rs 11.01 crore and 7.31 crores respectively.

UNI