Mumbai  : Shri Ashwani Kumar, Chairman and Managing Director, Dena Bank, announced the financial results of the Bank for the Quarter/Year ended 31st March 2017 after adoption by the Board of Directors.
Rounded Rectangle: Business Growth

1.    Operating Profit

Operating profit of the Bank has increased from ` 925.30 cr for Mar-16 [FY] to `1390.21 cr for Mar-17 [FY] showing a increase of 50.24% on y-o-y basis. Increase in the Operating Profit in FY 2016-17 is mainly due to increase in profit on sale of investment from ` 106.60 cr during FY 2015-16 to ` 631.97 cr during FY 2016-17.

2.Net Profit:

Bank has incurred a net loss of  ` 863.63cr during FY 2016-17 as compared to net loss of ` 935.32 cr for FY 2015-16. Main reasons for Loss during the year are attributed to the increase in NPAs, which leads to decrease in Interest on Advances by ` 786.27 cr (10.14% ) and also increase in provisions from ` 1860.62 cr during FY 2015-16 to Rs. 2,253.84 cr during FYb2016-17.

3. Business Mix:

Business Mix [Total Deposits + Gross Advances] of the Bank, which was `2,03,241.63 cr as on 31st March 2016 has decreased to ` 1,91,480.61 cr ason 31st March 2017 showing a decrease of 5.79%. On a sequential basis, as on 31st Dec 2016 Business Mix was ` 1,93,669.44 cr Business Mix [ in cr ]

Highlights for the Year ended 31.03.2017

1.    Bank’s Operating Profit has increased by 50.24% to ` 1,390.21 cr for Mar- 17 [FY] as compared to ` 925.30 cr for Mar- 16 [FY].

2.      CRAR has increased to 11.39% [with Tier1 at 9.05%] as of Mar- 17 from 11.00 % [Tier1 at 8.59%] as of Mar- 16.

3.    Cost of Deposit has decreased by 77 bps which has stood at 6.43% for Mar- 17 [FY] as compared to 7.20% for Mar- 16 [FY].

4.    Interest Expenses has decreased by 4.84% to  7,773 cr for Mar- 17 [FY] as compared to ` 8,169 cr for Mar- 16 [FY].

5.    Other Operating Expenses (Other than staff expenses) has decreased by 4.22% to ` 785 cr for Mar- 17 [FY] as compared to ` 820 cr for Mar- 16 [FY].

6.    Total Expenses has decreased by 3.78% to ` 10,043 cr for Mar- 17 [FY] as compared to ` 10,437 cr for Mar- 16 [FY].

7.    CASA % age has improved by 866 bps from Mar 2017 [FY] and stood at 37.93% as of Mar-17.

8.    Total reduction in NPA  stood at ` 2,709 crore during the FY 2016-17 as compared to Rs.1,931 crore as of previous corresponding FY 2015-16 .

9.    Recovery in w/o A/cs stood at ` 115 crore during the FY 2016-17 as compared to Rs.66 crore as of previous corresponding FY 2015-16 .

10.  Interest income on investments has increased by 11.43% from ` 2,608 cr for Mar 2016 [FY] to  `  2,906 cr for Mar 2017 [FY].

11.  Profit on Sale of Securities has increased by 492.86% to ` 6,32 cr as against  ` 107 cr during FY 2015-16

12.  Total Retail advance has registered Y-o-Y growth of 10.35% and stood at the level of ` 13,301 crores as of 31.03.2017 as against ` 12,053 crores as of Mar, 2016.

Source  : Sachin Murdeshwar