Dena Bank registers Rs 201.56 cr profit

Mumbai, Apr 25 (UNI) Dena Bank's net profit for the financial year (FY) 2007, rose to Rs 201.56 crore, with a growth of 176 per cent, from the past year margin of Rs 72.99 crore whereas the net worth of the bank crossed the landmark of Rs 1,000 crore to reach at Rs 1,086.81 crore.

Meanwhile, the net Profit for the quarter ended March came down to Rs 43.80 crore against Rs 130.47 in previous quarter during last year, accordign to the bank's annual financial report announced today.

The operating Profit for the year was improved by 5.83 per cent, up from Rs 600.37 crore during FY 2005-06 to Rs 635.37 crore this year.

The growth in operating profit was adversely impacted by a steep reduction of 69 per cent in the profit from the sale of securities during the year, sources said.

The Capital Adequacy Ratio(CAR) also marked a growth of 90 basis points to stand at 11.52 per cent.

Total Deposits increased by 17.22 per cent to Rs 27,690 crore at the end of the year as against Rs 23,623 crore in FY 06.

This apart, the gross Advances recorded a higher growth of 26.68 per cent during the year and stood at Rs 18,683 crore as against Rs 14,748 crore as on March 06.

In the retail credit sector, the bank registered a margin of Rs 3,423 crore from Rs 2,249 crore in previous year, representing a growth of 52.17 per cent.

The growth was also visible in the agriculture credit, which was increased by 41.57 per cent to Rs 3,345 crore as against Rs 2,363 crore in previous year, sources said.

UNI