Bank’s Operating Profit has increased by 50.24% to ` 1,390.21 cr
Mumbai, May 9, 2017 (GPN) : Shri Ashwani Kumar, Chairman and Managing Director,
Dena Bank, announced the financial results of the Bank for the Quarter/Year
ended 31st March 2017 after adoption by the Board of Directors.
Rounded Rectangle: Business Growth
1. Operating Profit :
Operating profit of the Bank has increased from ` 925.30 cr for Mar-16 [FY] to `1390.21 cr for Mar-17 [FY] showing a increase of 50.24% on y-o-y basis.
Increase in the Operating Profit in FY 2016-17 is mainly due to increase in
profit on sale of investment from ` 106.60 cr during FY 2015-16 to ` 631.97
cr during FY 2016-17.
2. Net Profit :
Bank has incurred a net loss of ` 863.63cr during FY 2016-17 as compared to
net loss of ` 935.32 cr for FY 2015-16. Main reasons for Loss during the
year are attributed to the increase in NPAs, which leads to decrease in
Interest on Advances by ` 786.27 cr (10.14% ) and also increase in
provisions from ` 1860.62 cr during FY 2015-16 to Rs. 2,253.84 cr during FY
3. Business Mix :
Business Mix [Total Deposits + Gross Advances] of the Bank, which was
`2,03,241.63 cr as on 31st March 2016 has decreased to ` 1,91,480.61 cr as
on 31st March 2017 showing a decrease of 5.79%. On a sequential basis, as on
31st Dec 2016 Business Mix was ` 1,93,669.44 cr
Business Mix [ in cr ]
Highlights for the Year ended 31.03.2017
1. Bank’s Operating Profit has increased by 50.24% to ` 1,390.21 cr for
Mar- 17 [FY] as compared to ` 925.30 cr for Mar- 16 [FY].
2. CRAR has increased to 11.39% [with Tier1 at 9.05%] as of Mar- 17
from 11.00 % [Tier1 at 8.59%] as of Mar- 16.
3. Cost of Deposit has decreased by 77 bps which has stood at 6.43% for
Mar- 17 [FY] as compared to 7.20% for Mar- 16 [FY].
4. Interest Expenses has decreased by 4.84% to 7,773 cr for Mar- 17 [FY] as compared to ` 8,169 cr for Mar- 16 [FY].
5. Other Operating Expenses (Other than staff expenses) has decreased by
4.22% to ` 785 cr for Mar- 17 [FY] as compared to ` 820 cr for Mar- 16 [FY].
6. Total Expenses has decreased by 3.78% to ` 10,043 cr for Mar- 17 [FY] as compared to ` 10,437 cr for Mar- 16 [FY].
7. CASA % age has improved by 866 bps from Mar 2017 [FY] and stood at
37.93% as of Mar-17.
8. Total reduction in NPA stood at ` 2,709 crore during the FY 2016-17
as compared to Rs.1,931 crore as of previous corresponding FY 2015-16 .
9. Recovery in w/o A/cs stood at ` 115 crore during the FY 2016-17 as
compared to Rs.66 crore as of previous corresponding FY 2015-16 .
10. Interest income on investments has increased by 11.43% from ` 2,608 cr
for Mar 2016 [FY] to ` 2,906 cr for Mar 2017 [FY].
11. Profit on Sale of Securities has increased by 492.86% to ` 6,32 cr as
against ` 107 cr during FY 2015-16
12. Total Retail advance has registered Y-o-Y growth of 10.35% and stood at
the level of ` 13,301 crores as of 31.03.2017 as against ` 12,053 crores as of Mar, 2016.Ends.