Public sector lender Dena Bank reported a 15.38% jump in its net profit to Rs 155.21 crore in the quarter ended December 31, 2010. The bank had posted a net profit of Rs 134.52 crore in the corresponding period the previous year. Bank's total income during the third quarter of this fiscal also witnessed an increase of 23.32% to Rs 1,416.95 crore from Rs 1,149.04 crore in the year-ago period.
SBI Life new biz premium up 6 %
SBI Life said its new business premium grew by 6% to Rs 4,699 crore at the end of December 2010. The company's new business premium income was Rs 4,448 crore at the end of December 2009. On a month-on-month basis, the new business premium from Ulips rose to Rs 487 crore during December from Rs 261 crore in November-end.
Repco Bank net up 48%
Repco Bank has posted a 48% jump in its net profit in the third quarter at Rs 39 crore as against Rs 27 crore registered in the same quarter last fiscal. The deposits have registered a growth of 16% (Rs 2611 crore) and advances registered a growth of 41% (Rs 2037 crore) over last year. Total business of the bank increased to Rs 4,648 crore. Net NPA stood below the bench mark level at 0.88%.
Dhanlaxmi to raise Rs 1k cr
Dhanlaxmi Bank (DLB) said it would mobilise Rs 1,000 crore in 4-5 months. With this mobilisation, the bank's net worth would cross Rs 2,000 crore. The banks net profit for the quarter ended Dec 31 was Rs 7.3 crore. While the advances went up t to Rs 7,700 crore, the deposits have risen to Rs 10,500 crore, recording an increase in between 70 and 75% compared to the corresponding period last year.
TMB raises deposit rates
Tamilnad Mercantile Bank (TMB) has increased its domestic term deposit rates on various maturities by 25 to 100 basis points with effect from January 27. The interest rate on term deposits in the tenure of 15 to 29 days and 46 to 90 days has been raised by 100 basis points each to 5% and 6%, respectively.