Money & Banking

Dhanlaxmi Bank net profit hit on Covid provisions

Our Bureau Kochi | Updated on August 04, 2020 Published on August 04, 2020

The Covid provisions and moratorium on loans has hit the net profit of Kerala-based Dhanlaxmi Bank in Q1 of FY21 at ₹6.09 crore as against ₹19.84 crore in the corresponding period of the previous fiscal.

However, the bank has recorded an operating profit of ₹43.11 crore for the first quarter compared to ₹29.11 crore for the same period of last financial year.

The total business reached ₹17,847 crore as on June 30, from ₹17,023 crore as same date in 20l9. The total income increased by 8.52 per cent from ₹256.75 crore to ₹278.62 crore. Other income increased by ₹25.62 crore from ₹16.32 crore to ₹41.97 crore.

The total deposits increased by 5.77 per cent to ₹11,109 crore. The retail deposits and NRE deposits grew by 7.84 per cent and 3.22 per cent, respectively. The gross advance grew by 3.34 per cent from ₹6,520 crore to ₹6,738 crore with retail advance growth of 4.96 per cent.

The assent quality improved with gross NPA coming down by 72 bps and net NPA coming down by 17 bps on a Y-o-Y basis to 6.89 per cent and 2.18 per cent, respectively. CRAR has been improved from 13.85 per cent to 13.94 per cent. The book value as on June 30 was ₹32.92.

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Published on August 04, 2020
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