Canara bank Q4 net up 2.3% at Rs 505.09 cr

New Delhi, May 2 (UNI) Canara Bank has seen a 2.3 per cent increase in its net profit at Rs 505.09 crore for the fourth quarter ended March 31, 2007, against Rs 493.52 crore over the same period last year.

The financial institution's total income rose by 37.68 per cent from Rs 2786.59 crore to Rs 3836.71 crore for FYQ407.

The bank has also registered a rise of 5.7 per cent with a net profit of Rs 1,420.81 crore for FY2006-07, as compared to Rs 1,343.22 crore for the last fiscal.

Total income increased by 27.8 per cent from Rs 10,027.08 crore for the financial year ended March 31, 2006 to Rs 12,815.51 crore for the last fiscal.

The Board of Directors, inter alia, has recommended a dividend at the rate of 70 per cent for the fiscal ending March 31, 2007.

UNI