Dena Bank Q1 net down 21% at Rs 189 cr

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SummaryDena Bank reported 21% decline in net profit at Rs 189.20 cr for the first quarter.

State-owned Dena Bank today reported 21 per cent decline in net profit at Rs 189.20 crore for the first quarter ended June, 2013.

The bank had earned net profit of Rs 238.63 crore in the April-June quarter of 2011-12, Dena Bank informed the BSE. The total income of the bank rose to Rs 2,765.68 crore in the April-June quarter from Rs 2,278.85 crore in the same period last year.

As of June 30, 2013, Dena Bank's portfolio quality deteriorated, with gross non-performing assets (NPAs) rising to 2.70 per cent of gross advances as against 1.80 per cent in the same quarter of the previous fiscal.

It's net non-performing assets also rose to 1.74 per cent from 1.01 per cent in the review period. The bank's Capital Adequacy Ratio (CAR) as of June 30 stood at 11.12 per cent.

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