Dhanlaxmi Bank

Dhanlaxmi Bank Q1 results: Total income down at Rs 338 cr, loss at Rs 8 cr

Dhanlaxmi Bank on Monday reported a loss of Rs 8 crore for the first quarter of the current financial year. Against this, the bank had earned a net profit of Rs 28 crore in the April-June quarter of FY24. The bank's total income declined to Rs 338 crore in the first quarter as against Rs 341 crore in the same period a year ago, Dhanlaxmi Bank said in a regulatory filing. During the quarter the bank earned interest income of Rs 306 crore as against Rs 289 crore in the same period a year ago. The bank's gross non-performing assets (NPA) of the total advances declined to 4.04 per cent in the first quarter from 5.21 per cent at June-end last year. However, net NPAs rose to 1.26 per cent in June 2024 against 1.09 per cent same period a year ago.

Dhanlaxmi Bank appoints Ajith Kumar KK as MD & CEO for 3-year tenure

Private sector Dhanlaxmi Bank on Tuesday said it has appointed Ajith Kumar KK as Managing Director (MD) of the bank. He will take charge on June 20, Kerala-based Dhanlaxmi Bank said in a regulatory filing. The board at its meeting held on Tuesday approved the appointment of Ajith Kumar KK as Managing Director & CEO of the bank for a period of three years with effect from June 20, 2024, and on such remuneration as approved by RBI vide letter dated April 18, it said. The bank will seek approval of the shareholders for the said appointment within the prescribed time period in accordance with the applicable provisions of the Companies Act, 2013 and SEBI regulations, it said. He is a seasoned banker with over 36 years of experience with the Federal Bank in various facets of banking including Credit, Human Resources, Business, Branch Banking etc. He is presently the Chief Human Resources Officer at Federal Bank in the cadre of president, it said.

Raising capital may be priority for incoming Dhanlaxmi Bank's CEO

Ajith Kumar K.K. will be fifth chief executive of Dhanlaxmi Bank in 9 years

Dhanlaxmi Bank's CEO to continue till the successor assumes charge

Dhanlaxmi further said that the board has already approved a panel of candidates for the chief executive officer position and has sought the regulator's approval

RBI imposes Rs 2.49 crore penalty on 3 banks including Punjab & Sind

The Reserve Bank on Friday said it has imposed penalties totalling Rs 2.49 crore on three banks, including Dhanlaxmi Bank and Punjab and Sind Bank, for contravention of regulatory norms. A penalty of Rs 1.20 crore has been slapped on Dhanlaxmi Bank for non-compliance with certain directions on 'Loans and Advances Statutory and Other Restrictions', KYC and certain norms related to interest rate on deposits, the Reserve Bank of India (RBI) said. Further, a fine of Rs 1 crore has been imposed on Punjab and Sind Bank for non-compliance with certain directions on 'Loans and Advances Statutory and Other Restrictions'. The central bank has also imposed a penalty of Rs 29.55 lakh on ESAF Small Finance Bank for non-compliance with the directions issued by it on 'Customer Service in Banks'. The penalties are based on the deficiencies in regulatory compliance and are not intended to pronounce upon the validity of any transaction or agreement entered into by the lenders with their customers,

Dhanlaxmi Bank starts hunt for new CEO, Shivan's term to be over in January

The search-cum-selection committee, constituted by the board at its meeting held on Wednesday, will identify and evaluate suitable candidates for the position

Q2 advances: Federal Bank to BoM, banks clock healthy double-digit growth

The pace of loan growth for these lenders was higher than the 15.1 per cent Y-o-Y growth in advances of the banking system until 8 September 2023, according to Reserve Bank of India's data

RBI clears K N Madhusoodanan as part-time chairman of Dhanlaxmi Bank

Madhusoodanan has been an independent director with the bank since 2022

Dhanlaxmi Bank saga puts spotlight on independent directors on bank boards

Is Kalyanasundaram a whistleblower? Dhanlaxmi insiders are not too perturbed by his exit and say it is business as usual at the bank. That said, Dhanlaxmi has been in a prolonged patch of bad news

Sensex, Nifty end lower dragged by HDFC Bank, RIL; PSU Bank index jumps 3%

Closing Bell on Monday, September 18: The S&P BSE Sensex fell 242 points to 67,597 levels, while the Nifty50 ended below the 20,150-mark at 20,133, lower by 59 points

'Inputs ignored': Dhanlaxmi Bank independent director resigns from board

This comes after Ravindran Pillai, head of R P Group, came out with a special notice for the removal of Kalyanasundaram by passing a resolution at its 96th AGM to be held on 30 September

Dhanlaxmi Bank Q1 net profit at Rs 28 cr due to decline in bad loans

Private sector Dhanlaxmi Bank on Monday recorded a net profit of Rs 28.30 crore in the April-June quarter, mainly due to a decline in bad loans. The lender had posted a net of Rs 26.43 crore in the year-ago period. The total income in the first quarter of the current fiscal rose to Rs 5,857 crore against Rs 3,797 crore, UCO Bank said in a regulatory filing. The lender's interest income also increased to Rs 341.40 crore from Rs 236.82 crore in the same quarter a year ago. On the asset quality side, the bank witnessed improvement with the gross non-performing assets (NPAs) easing to 5.21 per cent of the gross advances by June 2023 from 6.35 per cent a year ago. The net NPA too declined to 1.09 per cent against 2.69 per cent in the year-ago period. However, provisions for bad loans increased to Rs 27.64 crore as compared to Rs 21.41 crore in FY23. Provision Coverage Ratio of the bank stood at 90.79 per cent as of June 2023. The capital adequacy ratio of the bank improved to 12.57

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Dhanlaxmi Bank Q4 net up 63% to Rs 38 cr on improvement in asset quality

For the whole of FY23, the bank's net profit was up 37% to Rs 49.36 crore

Dhanlaxmi Bank sees 23% rise in gold loan book; total deposits up 7%

The bank's total business grew 11.26 per cent to Rs 23,194 crore as on March 2023

Dhanlaxmi appoints 3 new directors in board, paves the way for rights issue

The bank management and shareholders have reached compromise formulae on the issue of appointing the latter's representatives as directors on the bank's board

Dhanlaxmi Bank Q2 profit jumps to Rs 16 cr on lower bad loan provisions

Dhanlaxmi Bank on Wednesday reported a multi-fold rise in net profit at Rs 15.89 crore for September quarter 2022-23 on lower provisions for bad loans. The bank had clocked a net profit of Rs 3.66 crore in the year-ago period. In the previous June quarter, the bank incurred a net loss of Rs 26.43 crore. Total income increased to Rs 285.26 crore in September quarter from Rs 266.79 crore earlier, Dhanlaxmi Bank said in a regulatory filing. Interest income rose to Rs 262.50 crore from Rs 229.01 crore. Operating profit was up 35 per cent at Rs 35.35 crore. Gross non-performing assets (NPAs) of the bank were 6.04 per cent of gross advances at the end of September 2022 as against 8.67 per cent by the year-ago period. Net NPAs or bad loans were trimmed to 2.32 per cent from 4.92 per cent. Thus, provisions for bad loans and contingencies fell to Rs 19.46 crore for the quarter, as against Rs 22.60 crore set aside for the year-ago period. Dhanlaxmi Bank said it has recovered Rs 3.32 crore

Dhanlaxmi Bank gets legal breather in fresh twist to tussle for board seat

Kerala HC on Tuesday ruled in favour of the bank on the issue of writ petitions filed by four persons demanding board positions

Dhanlaxmi Bank's shareholders seek to curb CEO's spending powers

The shareholders seek to suspend powers exercised by CEO Shivan JK in respect of all capital and revenue expenditure, except statutory payments such as salaries and wages

Dhanlaxmi Bank shareholders seek to curb CEO spending powers; EGM on Nov 12

Through another resolution, the shareholders are also seeking a settlement on the issue of a legal battle with some shareholders regarding board positions.