Dena Bank Announces Q1 FY18 Results

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By K Ashwin Mobile:00919920183006 Email:indianshowbusiness@gmail.com

 Shri Ashwani Kumar, Chairman and Managing Director, Dena Bank, announced the financial results of the Bank forthe Quarter ended 30th June 2017 after adoption by the Board of Directors.

Business Growth

 

 

 


1. Business Mix:

 

 

Total Business of the Bank as on 30.06.2017 stood at ` 1,81,572 cr as compared to`1,93,049 cr as on 30.06.2016.

 

Total business decreased by `11,477cr on y-o-y basis.

 

 

Business Mix [ in cr ]

 

2.        Deposits:

 

Deposits   of    the Bank decreased to `1,06,765 cr as   on 30.06.2017 from     `1,11,935 cras on 30.06.2016 decreased due to restructuring of Balance Sheet as Bank has shed High cost deposit.

 

 

 

 

 

 

                        Total Deposit [in cr]

 

 

 

 

 

 

 

 

3.        Advances:

 

Advances of the Bank decreased to           ` 74,807 cr as on 30.06.2017 from      ` 81,114 cr as on 30.06.2016 showing a negative growth of 7.78%

 

 

Credit Deposit ratio stood at 70.07%

 

a. Agriculture Sector Advances have increased by 7.65 % and stood Rs. 13,117 cr as of June- 2017 as compared to Rs. 12,185 cr as of June- 2016.

 

b. Retail Advances improved by 19.21% and stood Rs 13,530 cr as of June- 2017 as compared to Rs. 11,350 cr as of June- 2016.

 

Advances [ in cr]

4.  Net Profit:

Bank has incurred net loss of ` 132.65 cr for June-17 [Q] against the net loss of            ` 279.35 cr for June-16 (Q). On Y-O-Y basis, Net loss has reduced by ` 146.70 over June-16 Quarter, which was ` 279.35 cr. Bank has reduced its loss in the June-17 quarter as compare  to June-16 quarter mainly due to following reasons:

  1. Provision & Contingencies decreased during the current quarter from` 549.79 cr for Q1 (2016-17) to ` 421.43 cr for Q1 (FY 2017-18).
  2. Increase in Net Interest Income from Rs 620.88 cr to Rs 675.07 cr .
  3. Increase in Non-interest Incomes from ` 221.02 cr to ` 237.29 cr mainly due to improvement in commission Income.

Highlights for the Quarter ended 30.06.2017

Highlights for the Quarter ended 30.06.2017

1. BANK’S CRAR UNDER BASEL III has increased to 11.65% (with Tier I at 9.19%) as on June, 2017 as against 10.79% (with Tier I at 8.37%) as on June, 2016. On sequential basis it was 11.39 % (with Tier I at 9.05%) as on Mar, 2017. The Capital adequacy has improved due to reduction in Risk Weighted Assets.

2. NET INTEREST MARGIN [NIM] has improved by 42 bps at 2.44% for June, 2017 as compared to 2.02 % for June, 2016. For Mar, 2017 quarter it was 1.48%.

3. COST OF DEPOSIT HAS DECREASED by 92 bps at 5.87% for June, 2017 as compared to 6.79% for June, 2016.

4. YIELD ON ADVANCES HAS INCREASED on sequential basis by 53 bps at 8.28% for June, 2017 as compared to 7.75% for Mar, 2017 quarter.

5. BANK’S NET LOSS HAS DECREASED by Rs. 146.70 Crore to Rs. 132.65 Crore for June, 2017 as compared to Rs. 279.35 Crore for June, 2016.

6. BANK’S OPERATING PROFIT HAS INCREASED by 6.78% to Rs. 288.78 Crore for June, 2017 as compared to Rs. 270.44 Crore for June, 2016.

7. CASA % IMPROVED by 786 bps from 30.30% as of June, 2016 to 38.16% as of June, 2017.

8. AGRICULTURE SECTOR ADVANCES HAVE INCREASED by 7.65% and stood Rs. 13,117 Crore as of June, 2017 as compared to Rs. 12,185 Crore as of June, 2016.

9. RETAIL ADVANCES IMPROVED by 19.21% and stood Rs. 13,530 Crore as of June, 2017 as compared to Rs. 11,350 Crore as of June, 2016.

10. NPA PROVISION has decreased by Rs. 163.91 Crore to Rs. 434.58 Crore for June, 2017 as compared to Rs. 598.49 Crore for June, 2016.

11. As on 30.06.2017 Bank has opened 41.08 lakhs accounts against the estimation of 18.50 lakhs accounts under Pradhan Mantri Jan Dhan Yojana which was launched on 28.08.2014. Deposits of Rs. 746.03 Crore have been mobilized in these accounts.

12. As directed by DFS for organization of FLC Camp Week from 05.06.2017 to 20.07.2017, Rural Branches have organized 515 FLC camps in which 20,057 participants attended the camp. In addition to the above, FLC center has also organized 93 FLC camps in which 7,778 participants attended the camp.

13. AADHAAR / MOBILE NUMBER SEEDING IN PMJDY ACCOUNTS: The percentage of Aadhaar seeding in PMJDY accounts has been substantially increased. As of June, 2017, Aadhaar have been seeded in 76.78 % and mobile number seeded in 69.61% of the operative savings accounts.

14. AADHAAR ENROLMENT: Bank is Non-State Registrar of Unique Identification Authority of India (UIDAI). In 2nd phase, Bank has been carrying out Aadhaar Enrolment through 84 Enrolment Agencies (EAs).

15. DBT & DBTL: Bank has successfully implemented DBT scheme & Direct Benefit Transfer for LPG. The subsidy amount can be credited directly to account with or without Aadhaar number.

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