Dena Bank net up 20%

BS 200 SCORECARD

Dena Bank reported a 20 per cent rise in its net profit in July-September 2005 to Rs 48.64 crore from Rs 40.55 crore a year earlier. For the first half of 2005-06, the bank reported a loss of Rs 140.66 crore as against a profit of Rs 77.27 crore a year earlier, as it made a provision of Rs 199.71 crore on account of transfer of securities from available for sale to held to maturity category in the first quarter.

The bank's capital adequacy ratio stood at 9.29 per cent in September 2005 as against 10.28 per cent in September 2004 and 11.91 per cent in March 2005. The drop in CAR is on account of the net loss incurred in the previous quarter and the increase in asset base.

Provisions and contingencies declined marginally by 1.39 per cent to Rs 69.33 crore for the quarter as compared with Rs 70.31 crore in September 2004.

However, for the half year ended September 2005, the provisions witnessed a steep increase of 149 per cent to Rs 382.70 crore on account of depreciation on investments during the first quarter. Total deposits increased by 9.47 per cent to Rs 21,372 crore as against Rs 19,522 crore . Dena Bank's gross advances increased by 23.67 per cent to Rs 12,777 crore in September 2005.