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Dena Bank reports Q4 net loss of Rs575 crore

LiveMint logoLiveMint 09-05-2017 Sahib Sharma

Mumbai: Dena Bank on Tuesday reported a net loss of Rs575.26 crore for the March quarter against a Rs326.28 crore loss recorded a year ago due to deterioration in asset quality.

Net interest income, the difference between interest earned on loans and that paid on deposits, rose 14.08% from a year ago to Rs450.07 crore at the end of the March quarter compared with Rs625.71 crore a year ago. Other income rose 45.90% to Rs314.97 crore at the end of the quarter, compared with Rs215.87 crore a year ago.

Provisions during the quarter were Rs972.04 crore, against Rs900.94 crore a year ago and Rs484.43 crore in the preceding quarter.

Gross non-performing assets (NPAs) as a ratio of gross advances were at 16.27%, against 14.79% as of 31 December. Net NPA ratio at the end of the fourth quarter was 10.66%, slightly up from 9.52% in the third quarter.

Capital adequacy ratio on 31 March stood at 121.39% against 11.08% a year ago.

At 3.59pm, shares of Dena Bank lost 5.61% to Rs44.60 apiece on Tuesday on the BSE, while the benchmark Sensex index gained 0.02% to 29,933.25 points

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