MUMBAI, July 28: Dena Bank has recorded a 35 per cent jump in its net profit to Rs 33.67 crore during the first quarter of fiscal 1998-99 compared with Rs 24.90 crore in the corresponding period last year.While addressing the bank's second annual general meeting here on Tuesday, chairman Ramesh Mishra said that the bank's advances, contrary to the industry trend, have increased during the period while deposits have gone down.
The bank's interest income has gone up by almost 30 per cent to Rs 342.46 crore from Rs 263.45 crore. Other income has also increased by almost 17 per cent to 42.58 crore from Rs 36.4 crore. The provision and contingencies of the bank have gone up to Rs 31.46 crore from Rs 31 crore.
Mishra said that the bank has 25 per cent of its total credit exposure in term loan financing.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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