Dena Bank’s Rs 300-crore bond under Icra watch

New Delhi, July 17: Credit rating agency Icra has placed the Rs 300-crore bond and the Rs 500-crore certificate of deposits (CoD) programmes of Dena Bank under rating watch with negative implications.

The ‘LAAA’ rated Rs 300-bond and ‘A1+’ rated Rs 500 CoD programmes has been placed under rating watch, factoring the reported deterioration in bank’s performance, an Icra release said. Dena Bank reported a loss of Rs 266.13 crore for 2000-01 due to increased operating expenses and higher provisioning for NPAs.

-- PTI