Moody's: Indian bank Q3FY17 earnings show effects of demonetization; NPL trends mixed
Singapore, February 23, 2017-- Moody's Investors Service says that the earnings of Indian banks for Q3 FY2017 show that the government's decision to remove a high proportion of notes from circulation has led to a slowdown in economic activity that weighed on demand for credit among companies and retail borrowers during Q3 FY2017. "Overall, demonetization has significantly impacted credit demand and deposit growth, but the effect on asset quality has been mixed, while retail...Canara is engaged in offering banking products and services throughout India. with "one stop banking". Co. provides insurance premium financing, commercial real estate financing arrangements, loan servicing, consumer finance loans, credit card lending and automobile financing. Other services include savings; deposits; health and life insurance; wealth advisory services; asset management and capital markets services. As of Mar 31 2013, Co. has 3,723 branches and 3,526 ATM's catering to more than 4.7 crore customers. At Mar 31 2013, Co. had total assets of INR4,123,426,086,000 and total deposits of INR3,558,559,913,000.
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