Dena Bank reported a net Profit of Rs. 76.56 crore for the third quarter ended December 31, 2014, an increase of 12.92 per cent, compared to Rs. 67.80 crore for the corresponding period of previous financial year.
Advances of the Bank increased to Rs. 75,356 crore as on December 31, 2014 from Rs. 69,895 crore as on December 31, 2013 showing a growth of 7.81 per cent. The Bank said its Credit Deposit ratio stood at 70.49 per cent.
Direct agricultural advances of the Bank stood at Rs. 7,871 crore as on December 31, 2014 as compared to Rs. 6,451 crore as on December 31, 2013, a growth of 22 per cent. MSME advances of the Bank stood at Rs. 13,787 crore as against Rs. 11,902 crore, a growth of 15.84 per cent. Retail advances increased to Rs. 10,005.16 crore as against Rs. 8,773 crore, showing growth of 14.04 per cent.
Interest income of the Bank increased by Rs. 137.27 crore from Rs. 2,533.84 crore for the quarter ended December 31, 2013 to Rs. 2,671.11 crore, for the quarter ended December 31, 2014, a growth of 5.42 per cent.
Non-interest income was at Rs. 196.21 crore as on December 31, 2014 as compared to Rs. 128.96 crore as on December 2013, showing an increase of 52.15 per cent.
Gross NPA Ratio of the Bank as on December 2014 is at 5.61 per cent while net NPA ratio is at 3.97 per cent.
“Going forward, Dena Bank is targeting a business growth of 12-14 per cent in financial year 2014-15 in line with the present trend in the banking industry,” said Ashwani Kumar, Chairman and Managing Director, Dena Bank. He also said that the Bank targets to open 150 new branches in the current fiscal and continues its focus on retail and MSME advances while strengthening of Loan Processing Centres.
