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| DBS Bank India FY09 net quadruples to Rs 259 cr |
| BS Reporter / Mumbai Jun 18, 2009, 16:39 IST |
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DBS India, the domestic arm of the Singapore-based DBS Bank, has posted a 298 per cent surge in net profit after tax to Rs 259 crore, for the financial year ended March 31, 2009. The profit figure for the previous fiscal stood at Rs 65 crore.
The Bank's revenues rose 198 per cent from Rs 207.3 crore to Rs 616.9 crore, according to a press release issued by the institution.
At March 31, 2009, DBS’ balance sheet grew to Rs 12,565 crore, up 38 per cent from Rs 9,086 crore the previous year. The release said the performance reflected all-round expansion of the business and enhanced customer relationships. It added, that enhanced focus on client acquisition across business segments doubled the overall customer base.
The net worth of the bank was Rs 1,385 crore and capital adequacy ratio was 15.70% as of March 31, 2009. During the year, DBS also brought in two tranches of Subordinated Debt capital (Tier 2) to facilitate business expansion.
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