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Dena Bank’s net loss widened to Rs 1,225 crore in the fourth quarter ended March 31, 2018 against Rs 575 crore in the year-ago quarter due to huge loan loss provisions. In FY2018, the public sector bank’s net loss widened to 1,923 crore against Rs 864 crore in FY2017.
Net interest income in the reporting quarter was up 11 per cent year-on-year (yoy) at Rs 501 crore. Other income nudged up 2.5 per cent yoy to Rs 323 crore. Loan loss provisions soared to Rs 2,151 crore during the quarter against Rs 878 crore in the year-ago period.
Gross non-performing assets (GNPAs) rose Rs 2,192 crore to stand at Rs 16,361 crore as on March-end 2018. GNPAs increased to 22.04 per cent of gross advances as on March-end 2018 against 19.56 per cent as on December-end 2017.
Deposits declined 7 per cent yoy to Rs 1,06,130 crore. Advances too de-grew 10 per cent yoy to Rs 65,582 crore.
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