The Hindu : Business : Dhanalakshmi Bank’s net up

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Friday, Aug 03, 2007
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Dhanalakshmi Bank’s net up

Staff Reporter

Thrissur: Dhanalakshmi Bank has posted Rs.9.63 crore as profit before tax (PBT) in the first quarter that ended June 30 against Rs.3.10 crore in the corresponding period last year.

The bank thus recorded a growth of 210 per cent, a press release said on Wednesday. The net profit of the bank for the quarter has nearly doubled to Rs.6.05 crore. The total income of the Bank increased from Rs.59.23 crore to Rs.83.12 crore, registering 40 per cent growth.

Non-interest income has gone up from Rs.5.03 crore to Rs.6.06 crore. The total deposits of the bank increased from Rs.2,584 crore to Rs.3194 crore, recording a growth of 23.61 per cent. Total advances moved up from Rs.1,667 crore to Rs.1,922 crore.

Priority sector advances as a percentage to net bank credit touched 46.08 per cent, above the RBI benchmark of 40 per cent.

Efforts were made to recover non-performing assets resulting in reduction of gross NPA from 6.65 per cent to 4.96 per cent. Net NPA as a percentage of net advances declined from 2.65 to 1.59 per cent.

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