State-owned Dena Bank on Thursday reported narrowing
of net loss in December quarter to Rs 178.47 crore as provisioning for bad
loans declined. The bank had posted a net loss of Rs 380 crore in the
October-December period of 2017-18.
Total income of
the bank also came down to Rs 2,293 crore in the quarter under review as
against Rs 2,476 crore in the year-ago period, Dena Bank said in a regulatory
filing.
The lender also
improved its asset quality with net non-performing assets (NPAs) falling to
10.44 per cent of total advances at December-end 2018 from 11.52 per cent in
year-ago same period.
Also read- Q3FY19 Results of all Public & Private Sector banks in India
Also read- Q3FY19 Results of all Public & Private Sector banks in India
Gross NPAs
however rose to 19.77 per cent of gross advances as against 19.56 per cent a
year ago.
In absolute terms, net NPAs stood at Rs
6,142.47 crore by the end of third quarter 2018-19 as against Rs 7,564.20 crore
a year ago.Gross NPAs stood
at Rs 12,998.46 crore, down from Rs 14,168.78 crore a year ago.
The lender's
provisioning for bad loans nearly halved to Rs 519.37 crore in the latest quarter
from Rs 1,044.28 crore in October-December 2017. Provision
coverage ratio stood at 66.60 per cent at December-end 2018.
The lender also
informed 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."
No comments:
Post a Comment