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Dena Bank today said its net profit for the quarter ended December 31, 2013 fell by 67% from a year earlier to Rs 67.8 crore as it made higher provisions on account of deteriorating credit quality.
Total income of the bank increased to Rs 2,662.8 crore during the quarter from Rs 2,408.4 crore a year ago.
Provisions more than doubled to Rs 382.4 crore during the three-month as non-performing assets increased. Gross bad loan ratio deteriorated by 87 basis points to 2.96%, while net bad loan ratio increased by 69 basis points to 2%.
Dena Bank closed the quarter with a capital adequacy ratio of 10.61% as per Basel III rules.
