Dena Bank Q4 profit rises 62%, NPA Improved

Public sector lender Dena Bank has reported a 62 per cent rise in net profit for the quarter ended March 31 (Q4) at Rs 255 crore, against Rs 157 crore reported in the corresponding period a year ago, on the back of healthy growth in fee-based income.

The lender has reported a 35 per cent rise in its fee-based income to Rs 160 crore, compared with Rs 118 crore in the same quarter last year.

The bank restructured assets worth Rs 3,400 crore during 2011-12. Deposits of the Mumbai-based bank grew by 20.18 per cent to Rs 77,167 crore, while gross advances were higher by 26.56 per cent at Rs 57,159 crore. Gross non-performing assets (NPA) ratio improved to 1.67 per cent, from 1.86 per cent, and net NPA ratio stood at 1.01 per cent against 1.22 per cent earlier.

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