Dhanlaxmi Bank has recorded a net profit of ₹16 crore in Q2 of FY23, against ₹3.66 crore for the same period last financial year.

The bank recorded operating profit of ₹35.35 crore for the quarter, against ₹26.06 crore for the same period last financial year, registering  a growth of 36 per cent.

Total business touched ₹21,857 crore from ₹18,889 crore.

Deposits recorded a 7 per cent growth to ₹12,748 crore.

CASA (current account, savings account) share of total deposits registered a growth of 8.21 per cent. As of September 30, 2022, the CASA share stood at 34 per cent

Gross advance grew 31 per cent to reach ₹9,109 crore from ₹6,971 crore. Advance under SME (small and medium enterprises) and gold loan portfolios grew 28 per cent  and 19 per cent, respectively. Credit deposit ratio improved from 58 to 71 per cent.

Net interest income for the quarter grew by 28.44 per cent to ₹116.44 crore from ₹90.66 crore. Net interest margin improved by 73 bps, from 2.85 to 3.58 per cent.

Gross NPA (non-performing assets) increased by 263 bps, from 8.67 to 6.04 per cent; and net NPA improved by 260 bps, from 4.92 to 2.32 per cent. As on September 30, the bank’s overall capital adequacy stands at 12.32 per cent. 

The bank would continue its focus on CASA, retail deposits, retail advances including gold loans, non-Interest income and NPA recovery during the current year, a release said.