Mumbai based Bank of Baroda (BoB) has replaced Canara Bank to become the third-largest public sector bank in India in terms of profit and total business for 2008-09.
State Bank of India is currently the country’s largest public sector bank followed by Punjab National Bank.
BoB recorded a net profit of Rs 2,227 crore for the financial year 2008-09, about Rs 155 crore more than that of Canara Bank. The latter’s net profit stood at Rs 2,072 crore.
The total business of BoB stood at Rs 3,36,383 crore at the end of fiscal 2008-09, about Rs 11,000 crore more than Canara Bank, reports quoted.