Money & Banking

Dhanlaxmi Bank posts 11% rise in net profit at ₹6.79 cr in Q1 of FY21

Our Bureau Kochi | Updated on July 28, 2021

Lender to continue focusing on retail advances

Dhanlaxmi Bank has registered 11.5 per cent increase in its net profit at ₹6.79 crore in Q1 of current fiscal.

The operating profit for the quarter stood at ₹8.89 crore. The total business reached ₹18,575 crore as on June 30 from ₹17,847 crore as on June 30, 2020, registering growth of 4.08 per cent.

A press statement here said that total deposits recorded growth of 4.94 per cent to ₹11,658 crore as on June 30, from ₹11,109 crore. CASA grew by 15.61 per cent to ₹3,859 crore from ₹3,338 crore.

Gross advance improved to ₹6,917 crore from ₹6,738 crore. Retail advance grew by 14 per cent and reached ₹3,560 crore. Gold loans improved by 37 per cent and reached ₹1,822 crore.

CRAR improved to 14.57 per cent as on June 30, against 13.94 per cent as on June 30, 2020.

Return on Assets improved to 0.21 per cent against 0.20 per cent. Return on Equity improved to 3.13 per cent against 2.93 per cent. Book Value of shares as on June 30 was ₹34.42.

The bank will continue the focus on retail advances including gold loans and SME advances, NPA recovery, CASA deposit growth and non- interest income would be the thrust areas, the statement added.

Published on July 28, 2021

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