Dena Bank Does Not Expect To Log A Profit This Year

Dena Bank does not expect to post net profit during the current fiscal, despite reducing its net loss to Rs 26 crore during April-December 2001 from Rs 266 crore in the last financial year.

A G Joshi, chairman and managing director of the bank, said losses will be further reduced, but not to the extent that it results in a positive bottomline.

He also said that the non-performing asset (NPA) level of the bank which is one of the highest in the banking industry in the country will be reduced to a considerable level and expects a better overall performance in 2001-02.