Dena Bank net up on steady interest income

Dena Bank, posted 23.8 per cent growth in net profit at Rs 239.64 crore in the second quarter ended September on steady growth in net interest income (NII). The lender had posted a net profit of Rs 193.58 crore in the second quarter ended September 2011.

The total income for the reporting quarter rose to Rs 2,327.84 crore from Rs 1,747.19 crore in July-September 2011. Its NII was up 15.37 per cent to Rs 594.07 crore from Rs 514.89 crore.

On Bombay Stock Exchange, the Dena Bank stock was ruling at 11.7 per share, up 1.42 per cent over the previous close.

The amount in provisions for bad loans and restructured assets plus contingencies rose 28.48 per cent to Rs 104.50 crore from Rs 81.33 in Q2 of 2011-12. The gross non-performing assets at the end of Q2 were Rs 1,170.54 crore, up from Rs 830.49 crore a year ago.

The capital adequacy ratio (Basel-II) 12.05 per cent at the end of September 2012 as against 12.55 a year ago.