Dhanlaxmi Bank has posted a net profit of Rs 25.81 crore for the second quarter compared to Rs 23.16 crore of net profit in the corresponding quarter of the previous fiscal.
The Thrissur, Kerala-headquartered bank’s total income rose by 16.25% year-on-year to Rs 380.64 crore during Q2FY25. Interest income registered a 8% YoY increase to Rs 328.83 crore while other income saw a 120.19% jump to Rs 51.81 crore.
The bank’s total business stood at Rs 25,650 crore as of September 2024 quarter. Of this, total deposits were at Rs 14,631 crore while gross advances stood at Rs 11,018 crore. Low cost CASA deposits share on total deposits as on September 30, 2024 was 31.66%.
Of the gross advances, retail advance (including gold) portfolio grew by 21.52% to Rs 5,907 crore. The bank’s credit-to-deposit ratio stood at 75.31% as of September 2024 quarter. Asset quality of the bank showed significant improvement year-on-year. The bank’s gross non-performing asset (NPA) as a percentage of gross advances fell to 3.82% in July-September quarter from 5.36% in the same period previous year. Net NPA also came down to 1.12% from 1.29%.