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Dhanlaxmi Bank to raise up to Rs 150 cr via bonds

Press Trust of India  |  New Delhi 

Private sector Dhanlaxmi today said it will raise up to Rs 150 crore by issuing bonds in one or more tranches within a year.

The decision was taken at the bank's annual general meeting that was held on September 30, the said in a regulatory filing.

The shareholders authorised the board of directors to issue redeemable secured/unsecured non-convertible debentures in one or more tranches subject to an aggregate limit of Rs 150 crore within a period of one year from the date of approval of this resolution, the said.

In the fiscal ended March 2017, Dhanlaxmi Bank reported a net profit of Rs 12.38 crore. The bank had made a net loss of Rs 209.45 crore in 2015-16.

The bank's gross non-performing assets (NPAs) stood at 4.78 per cent of the gross advances as on March 31, 2017 while net NPAs, as a percentage of net advances at the end of March this year, came in at 2.58 per cent.

The respective figures stood at 6.36 per cent and 2.78 per cent as of March 31, 2016.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, October 07 2017. 18:02 IST