Dena Bank trims net loss in Q1

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Public sector lender Dena Bank has reduced its net loss for the quarter ended June 2017 at Rs 132.65 crore on account of lower provisions for bad loans and increase in net interest income (NII) and commissions.

It had posted a net loss of Rs 279.35 crore in the same quarter last year. Its NII rose from Rs 620.88 crore in the first quarter of FY17 to Rs 675.07 crore. Its non-interest incomes rose to Rs 237.29 crore from Rs 221.02 crore mainly due to improvement in commission income, the bank said in a statement.

The provision and contingencies decreased to Rs 421.43 crore from Rs 549.79 crore. Its gross non-performing assets stood at 17.37 per cent at end of June 2017.