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Dena Bank narrows loss to Rs 178 cr in third quarter; improves asset high quality, however gross NPAs rises to 19.77%

New Delhi: State-owned Dena Bank on Thursday reported narrowing of web loss in December quarter to Rs 178.47 crore as...

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Dena Bank narrows loss to Rs 178 cr in third quarter; improves asset quality, but gross NPAs rises to 19.77%


New Delhi: State-owned Dena Bank on Thursday reported narrowing of web loss in December quarter to Rs 178.47 crore as provisioning for dangerous loans declined.

The financial institution had posted a web lack of Rs 380 crore within the October-December interval of 2017-18.

Representational picture. AFP.

Total revenue of the financial institution additionally got here all the way down to Rs 2,293 crore within the quarter underneath evaluation as in opposition to Rs 2,476 crore within the year-ago interval, Dena Bank stated in a regulatory submitting.

The lender additionally improved its asset high quality with web non-performing property (NPAs) falling to 10.44 p.c of complete advances at December-end 2018 from 11.52 p.c in year-ago identical interval.

Gross NPAs, nonetheless, rose to 19.77 p.c of gross advances as in opposition to 19.56 p.c a yr in the past.

In absolute phrases, web NPAs stood at Rs 6,142.47 crore by the top of third quarter 2018-19 as in opposition to Rs 7,564.20 crore a yr in the past.

Gross NPAs stood at Rs 12,998.46 crore, down from Rs 14,168.78 crore a yr in the past.

The lender’s provisioning for dangerous loans almost halved to Rs 519.37 crore within the newest quarter from Rs 1,044.28 crore in October-December 2017.

Provision protection ratio stood at 66.60 p.c at December-end 2018.

The lender additionally knowledgeable that “the board of directors of Bank of Baroda, Vijaya Bank and Dena Bank at their respective meetings held on January 2, 2019, have approved the amalgamation of the three banks.”

Stock of the financial institution closed 1.19 p.c down at Rs 12.45 on BSE.

 

 

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