Money & Banking

Dhanlaxmi Bank posts ₹5.28 crore net profit in Q4

Our Bureau Kochi | Updated on May 30, 2021

CASA deposits grew by 20.28 per cent during the year

The Thrissur- based Dhanlaxmi Bank has recorded a net profit of ₹5.28 crore in Q4 of FY21 against the figure of ₹2.60 crore in the corresponding quarter of the previous fiscal. The net profit for the whole financial year ended March 31, 2021 was ₹37.19 crore.

Total business reached ₹18,834 crore as on March 31, 2021, from ₹17,703 crore in the previous year, registering growth of 6.39 per cent.

Deposits recorded a growth of 7.41 per cent to reach ₹11,712 crore as March 31, from ₹10,904 crore as on March 31,2020. CASA deposits grew by 20.28 per cent during the year and reached ₹3,908 crore, which was ₹3,249 crore as on March 31 last year.

Gross advances reached ₹7,122 crore as on March 31 from ₹6,799 crore, a growth of 4.75 per cent. Retail advance grew by 19.91 per cent to reach ₹3,608 crore.

Gold loan portfolio, at 26.14 per cent of advances, has recorded a growth of 46.61 per cent. Non-Interest income increased to ₹141.48 crore from ₹112.85 crore, registering a growth of 25.37 per cent .Cost of Deposits has been reduced from 5.60 per cent to 5.17 per cent, while Cost of Funds has been reduced from 5.73 per cent to 5.28 per cent. CRAR improved to 14.47 per cent in FY 2020-21 against 14.41 per cent during the previous year 2019-20, Book Value of the shares stands at ₹34.15 as on March 31, 2021.

Bank would continue its focus on CASA, retail advances including gold loans, non-interest income and NPA recovery during the current year, press release said.

Published on May 30, 2021

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