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DBS Bank India’s full year net profit soared by 164 per cent to Rs 335.5 crore (Rs 127 crore in FY’11) helped by a robust expansion in loan portfolio and deposits.
The bank reported a 86 per cent rise in net income to Rs 1,063 crore for the year ended March 31’ 2012 (Rs 571 crore a year earlier).
“Our performance was broad-based with growth across all business lines,” Mr Sanjiv Bhasin, GM & CEO, DBS Bank India, said in a statement.
DBS injected Rs 508.5 crore additional capital into DBS Bank India. This takes the total capital of the bank in India as on March 31, 2012 to over Rs 3,500 crore.
Total loans of the bank, which set-up its first branch in India in 1995, rose about 71 per cent. Its total deposits grew about 75 per cent.
Net Interest Margin – (difference between the interest income that a bank earns on loans and pays on deposits)/ average earning assets – grew to 3.24 per cent from 2.86 per cent a year ago.
>satyanarayan.iyer@thehindu.co.in
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