Dena Bank registers Rs 18.49 crore profit

Mumbai, July 24 (UNI) Dena Bank has posted a net profit of Rs 18.49 crore for the first quarter ended June 30, 2006 as against the loss of Rs 189.30 crore for the same period last fiscal.

Announcing the results, Dena Bank Chairman&Managing Director Mr P L Gairola told mediapersons here today that the operating profit for the quarter which was Rs 124.07 crore for the quarter ended June 30, 2005 has marginally declined to Rs 117.18 crore mainly due to lower treasury earnings.

For the quarter ended March 06, the operating profit was Rs 175.27 crore, while the Capital Adequacy Ratio (CAR) stood at 10.46 per cent, well above the regulatory minimum of nine per cent despite a robust growth of over 28 per cent in the loan book.

Business mix was improved by 18.83 per cent to Rs 39,349 crore for the first quarter of 2006 from Rs 33,115 crore last year. Total deposits increased by 13.65 per cent to Rs 24,171 crore as against Rs 21, 267 crore. The share of demand deposits to total deposits improved to 43.84 per cent as against 42.04 per cent. Gross advances increased by 28.11 per cent to Rs 15,178 crore against Rs 11,848 crore as on March 05.

The outstanding in agricultural advances increased by 31.04 per cent to Rs 619 crore. Small and Medium Enterprises (SME) segment constitituted about 17 per cent of gross credit and stood at Rs 2,507 crore. However, gross non performing assets (NPA) declined by over 15 per cent over June 05 to Rs 975 crore. The Gross NPA as percentage to gross advances declined to 6.42 per cent from 9.70 per cent.

Net NPA declined by about 10 per cent over June 05 to Rs 476 crore; the net NPA as percentage to Net Advances declined to Rs 3.25 per cent from 4.73 per cent, he added.

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