Dena Bank net up by 11%

Total income rose 33% to Rs 2408 cr for the quarter

Mumbai based public sector lender Dena Bank reported 11% rise in net profit to Rs 206 crore. Total income of the bank rose 33% to Rs 2408 crore for the quarter.

Net interest income (NII)—the difference between interest earned and interest expended rose 14% to Rs 615 crore while net interest margin (NIM) was down by 45 basis points to 2.88%.

Gross Non Performing Assets (NPA) rose from 1.85% to 2.09% while net NPA grew to 1.31 from 1.1%

Low cost current accounts and savings accounts (CASA) was 31% of total deposits. Capital adequacy ratio was at 11.47 per cent with tier-1 capital falling below 8 per cent to 7.61 per cent.

Total advances grew 32 per cent year on year to reach Rs 63,041 crore while deposits grew by 24 per cent y-o-y to Rs 84,882 crore.
 
The banks provision coverage ratio (PCR) was at healthy levels of 70.67 per cent as of December.