• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager
• Smartbuy

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Kochi, June 9 The Thrissur-based Dhanalakshmi Bank has achieved a 76.33 per cent growth in its net profit for the year ended March 31, by registering Rs 28.46 crore against Rs 16.14 crore in the previous year.

The total income of the bank increased from Rs 276.17 crore to Rs 354.52 crore, recording a growth of 28.37 per cent. The non-interest income increased from Rs 27.67 crore to Rs 36.23 crore during the period at 30.94 per cent as a result of the bank’s focused thrust on fee-based business.

Mr P.S. Prasad, Managing Director and CEO of the bank, said at a press meet here on Monday that the total deposits increased from Rs 3,087.96 crore to Rs 3,608.42 crore, while total advances moved up from Rs 1,925.77 crore to Rs 2,163.73 crore.

The priority sector advances as a percentage to the net bank credit touched 51.24 per cent as at the end of March this year, well above the RBI benchmark of 40 per cent. Further, agricultural advances as a percentage to net bank credit for the same period was 19.08 per cent as against the RBI norm of 18 per cent.

The bank continued its involvement in micro finance during the year with outstandings under this sector increasing from Rs 60.72 crore to Rs 92.08 crore, recording a growth of 51.65 per cent, he said.

The net NPA as a percentage of net advances declined from 1.75 per cent last year to 0.88 per cent this year. The bank achieved 100 per cent core banking during the year offering anywhere banking services. It successfully completed its rights issue during April this year, he added.

He said the bank also plans to open more branches in tier-II and -III cities subject to the approval of RBI. At present, it has 181 branches, 26 extension counters and 70 ATMs throughout the country.

More Stories on : Financial Performance | Private Banks

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Vijaya Bank begins due diligence on waiver scheme

Copyright © 2008, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line