Net Interest Margin [NIM] has improved 25 bps which has stood at 2.27% as of Sep-16 quarter as compared to 2.02 % in Q1 (FY 17)
Mumbai, 5thNovember 2016 (GPN) : Shri Ashwani Kumar, Chairman and Managing Director, Dena Bank, announced the financial results of the Bank for the Quarter ended 30th Sep 2016 after adoption by the Board of Directors.
Shri. Ashwani Kumar CMD Dena Bank announcing the Q2 FY 17 Results
Business Growth
1. Business Mix:
Total Business of the Bank as on 30.09.2016 stood at ` 1,90,500 cr as compared to `1,83,634 cr as on 30.09.2015.
Total business increased by ` 6,866 cr with a growth of 3.74%on y-o-y basis.
Business Mix [ in cr ]
2. Deposits:
Deposits of the Bank increased to `1,11,998 cr as on 30.09.2016 from `1,06,430 cr as on 30.09.2015.
CASA % age in deposits have improved by 288 bps Y-o-Y at 31.30% as of Sep-16.
Total Deposit [in cr]
3. Advances:
Advances of the Bank increased to ` 78,502 cr as on 30.09.2016 from ` 77,204 cr as on 30.09.2015 showing a growth of 1.68%
Credit Deposit ratio stood at 70.09%
a. Agriculture Sector Advances have increased by 8.71 % and stood Rs. 12,511 cr as of Sep- 2016 as compared to Rs. 11,509 cr as of Sep- 2015.
b. Retail Advances improved by 11.29% and stood Rs 11,591 cr as of Sep- 2016 as compared to Rs. 10,415 cr as of Sep- 2015.
Advances [ in cr]
4. Net Profit:
Bank has incurred net loss of ` 44.32 cr for Sep-16 [Q] against the net profit of ` 38.76 cr for Sep-15 (Q). On sequential basis, Net loss has reduced by ` 235.03 over June-16 Quarter, which was ` 279.35 cr. Bank has incurred a loss in the recent quarters mainly due to sudden rise in NPA portfolio. The provision against NPA increased from ` 286.77 cr in Sep-15 to ` 554.46 cr in the current quarter which has contributed to overall loss inspite of good operating profits.
Highlights for the Quarter ended 30.09.2016
1. CASA % age has improved by 288 bps from Sep 2015 [Q] and stood at 31.30% as of Sep 2016.
2. Bank’s Operating Profit has increased by 38.01% to the tune of Rs 390.34 cr for Sep- 16 [Q] as compared to Rs 282.83 cr for Sep- 15 [Q].
3. Non-interest income has increased by 59.98% to the level of Rs 306.77 cr for Sep- 16 [Q] as compared to Rs 191.76 cr for Sep- 15 [Q].
4. During the quarter ended Sep 2016, Bank has earned profit on sale of Investment of Rs 180.18 cr as compared to Rs 26.19 cr as of Sep-15 [Q].
5. Cost of Deposit has decreased by 69 bps which has stood at 6.57% for Sep- 16 [Q] as compared to 7.26% for Sep- 15 [Q].
6. Bank has surpassed the targets under Priority Sector Lending, which has stood at 40.80% of ANBC.
7. Advances under Agriculture Sector has increased by 8.71% and stood at the level of Rs.12, 511 cr as of Sep- 16 as compared to Rs.11, 509 cr as of Sep-15.
8. Retail Advances has improved by 11.36% and has stood at the level of Rs 11,591 cr as of Sep-16 as compared to Rs. 10,409 cr as of Sep-15.
9. PSL % to ANBC for Sep-16 is at 40.80% as against 38.25% as of Sep-15.
10. NPA Upgradation has considerably improved to the tune of Rs 211.37crores during the quarter ended 30thSep-16, as compared to Rs 76.57 crores during the previous corresponding quarter ended 30th Sep-2015.
11. Bank has incurred a net loss of Rs. 44.32 cr in Sep-16 (Q) as against Net profit of Rs. 38.76 cr for Sep-2015 (Q). It is mainly due to an increase in provision for NPAs, fresh slippages during the period under review. The provision against NPA has increased from Rs 286.77 cr in Sep-15 to Rs. 554.46 cr in the current quarter which has contributed to the overall loss inspite of good operating profits.
12. Net Interest Margin [NIM] has improved 25 bps which has stood at 2.27% as of Sep-16 quarter as compared to 2.02 % in Q1 (FY 17)
13. CRAR has increased to 11.16% [with Tier1 at 8.62%] as of Sep- 2016 from 10.79 % [Tier1 at 8.37%] as of Jun 16.
14. Dena Bank has received certificate of excellence from DFS for performance of holding maximum enrolment camps for Aadhaar generation during PMJDY campaign.
15. Bank has opened 34.63 lakhs accounts under Pradhan Mantri Jan Dhan Yojana which was launched on 28.08.2014. Deposit of Rs. 404.81 crores have been mobilized in these accounts.
16. Bank has operationalized e-KYC facility through all Branches and the same is successfully implemented through Micro ATMs also.
17. Bank has launched the new Application (app) for android based smartphone for Dena Bank Mobile Application with facilities such as Balance Inquiry, Mini statement and Fund Transfer etc.
