| The proposed issue will be subject to clearance from the government, which holds 71 per cent of the equity, and the Reserve Bank of India, the bank said in a notice to the Bombay Stock Exchange said. |
| A senior bank official said : "We have only conveyed our intent to the exchange about the public issue. Details like how much to raise and the amount of dilution by the Centre will emerge after the government and RBI accord their approvals". |
| With the initial public offers of Allahabad Bank, UCO Bank and Indian Overseas Bank (IOB) being lapped up by investors in the last few months, foreign institutional investors as well as retail, Dena Bank wants to cash in on this opportunity. |
| The highlight of the revival of the primary equity market is the participation of retail investors in a big way. Currently, Vijaya Bank is tapping the market with its Rs 240 crore issue. |
| In the financial year ended March 31, 2003, the bank reported a net profit of Rs 114.19 crore as against Rs 11.36 crore in the previous financial year. |
| It is, however, is weighed down by non-performing assets. In 2002-03, gross NPAs and net NPAs stood at Rs 1,616.58 crore (Rs 1,996.02 crore) and Rs 997.28 crore (1227.25 crore) respectively. |
| The gross NPAs to gross advances ratio and the net NPAs to net advances ratio stood at 17.86 per cent (24.11 per cent) and 11.83 per cent (16.31 per cent) respectively. |
| In the first quarter, the bank reported a net profit of Rs 29.20 crore (Rs 3.53 crore). It managed to show a capital adequacy ratio of 9.69 per cent as of June-end 2003 as did not treat deferred tax asset (DTA) as an intangible asset. |
| If the bank had followed RBI guidelines on DTA, which were issued on March 29, 2003, its CAR would have been 6.81 per cent. |
| Dena Bank's shares ended up 3.62 percent at Rs 20.05 on the BSE. |
Explore Business Standard