Canara Bank Q2 net profit up by 18 per cent

New Delhi, Oct 19 (UNI) Canara Bank today reported an 18 per cent surge in its net profit for the second quarter ended September 30, 2006, at Rs 361.77 crore, as compared to Rs 306.51 crore for the corresponding period last year.

The total income increased by 20.2 per cent to Rs 2,993.23 crore for the quarter, from Rs 2,490.19 crore for the quarter ended September 30, 2005, a company statement said.

In September, the bank announced that it will raise 300 million dollars hybrid capital through upper tier-II and perpetual bonds (tier-I capital), in November to augment its capital base and fund overseas operations.

It had already raised capital of Rs 1,075 crore in the domestic market.

UNI CS VA ND1326