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Sunday, July 29, 2012

Dena Bank Q1 net profit up 42%

Public sector lender Dena Bank reported a 42 per cent growth in first-quarter net profit at Rs 239 crore against Rs 168 crore a year ago.

Net interest income, the difference between interest earned and interest expended, grew by 37 per cent to Rs 612 crore from Rs 447 crore.

The capital adequacy ratio of the Mumbai-based bank reduced to 12.35 per cent from 13.14 per cent.

Gross NPA (non-performing assets) ratio, a measure of asset quality, deteriorated a bit to 1.8 per cent in the April-June period from 1.86 per cent a year ago.

The Bank said that it will focus on micro-, medium and small enterprises to fuel credit growth.


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