Dena Bank has reported a net profit of Rs 18.49 crore in the first quarter ended June 30, 2006, as against a loss of Rs 189.30 crore a year earlier, as it witnessed a sharp decline in provisions. |
However, operating profit declined to Rs 117.18 crore from Rs 124.07 crore due to lower treasury earnings. During the period, the bank made provisions of Rs 97.38 crore as against Rs 323.42 crore a year earlier. |
Total income rose to Rs 546.87 crore from Rs 517.58 crore a year earlier. Interest on advances rose to Rs 296.59 crore from Rs 237.86 crore a year earlier. |
Profit on sale of securities dipped to Rs 13.01 crore from Rs 36.81 crore, the bank's chairman and managing director P L Gairola said today. The bank's deposits were up by 13.65 per cent from Rs 21,267 crore to Rs 24,171 crore. |
Share of low-cost deposits increased to 43.84 per cent from 42 per cent in a year earlier. However, cost of deposits increased marginally to 4.66 per cent from 4.56 per cent a year earlier. |
The gross advances rose by 28.11 per cent to Rs 15,178 crore as against Rs 11,848 crore in June 2005. Retail credit showed a robust growth of 49.65 per cent. The retail credit portfolio rose to Rs 2,372 crore from Rs 1,585 crore. |
Yield on advances rose to 8.03 per cent as on June 30, 2006 from 7.97 per cent at end of June 2005. |
Net non-performing assets declined to 3.25 per cent from 4.73 per cent. Capital adequacy ratio improved to 10.46 per cent from 9.52 pr cent. Earnings per share stood at 0.64 per share at end of June 2006. |