Dena Bank Q4 net dips

CORPORATE SCORECARD

Dena Bank has posted a 176 per cent rise in net profit at Rs 201.56 crore for 2006-07 over Rs 72.9 crore last year. However, its net profit for the fourth quarter ended March 2007 dropped substantially to Rs 43.8 crore from Rs 130.47 crore due to substantial rise in provisions, especially non-performing assets of Rs 112.13 crore.

The board has recommended a 8 per cent dividend for 2006-07. The proposed dividend comes after a gap of six years.

The total income for the reporting year rose to Rs 2,511 crore from Rs 2,199.17 crore. The interest income rose by 20.33 per cent to 2,118.5 crore as against Rs 1,760.13 crore in 2005-06.

The bank's deposits went up by 17.22 per cent to Rs 27,690 crore. The share of low cost deposits (current and savings accounts) in aggregate deposits was 44.51 per cent.

The cost of deposits rose to 4.89 per cent, and the bank's gross credit rose by 26.68 per cent to Rs 18,683 crore.

The yield on advances moved up by 86 basis points to 8.66 per cent, and the net interest margin stood at 3 per cent.