Money & Banking

Dhanlaxmi Bank net up 11.8%

| | Updated on: Apr 23, 2011

Private sector, Dhanlaxmi Bank, has clocked an 11.8 per cent growth in net profit in FY 11 at Rs 26.1 crore as against Rs 23.3 crore in the year ago period.

Total income in FY 11 rose to Rs 1,05,319 crore as against Rs 62,556 crore in the year ago period, the bank said in a release here on Saturday.

The south-based lender’s total asset book increased by 76.4 per cent to Rs 14,268 crore as on March 31, 2011 from Rs 8,087 crore as on March 31, 2010.

“FY 11 was a year for consolidation for us. On all parameters, including important ones such as business growth, net interest margin and NPA control, it was a good year for us,” Dhanlaxmi Bank CFO, Mr Bipin Kabra, told PTI.

Net interest margin for the year was around 2.7 per cent which is “satisfactory”, he said. On the outlook for FY 12, Mr Kabra said it would be in line with expectations. “We will continue to grow,” he said, without, revealing any figures.

Asked if the bank is planning to raise funds soon, Mr Kabra replied in the affirmative but without giving details. However, it is understood the bank is eyeing the GDR route to raise around Rs 500—600 crore.

In Q4 FY 11, the bank’s net profit grew around 100 per cent to Rs 11.2 crore from Rs 5.6 crore in the year ago period. Total business grew by a robust 78.4 per cent to Rs 21,595 crore from Rs 12,105 crore for the quarter ended March 31, 2010.

Published on November 12, 2017

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