Thrissur-based Dhanlaxmi Bank has posted a 17 per cent growth in net profit at ₹57.82 crore net profit for the financial year ended March 31 against a net profit of ₹49.36 crore for the period ended March 31, 2023. Operating profit for the period was ₹69.26 crore.

Total business reached ₹24,687.21 crore from ₹23,205.38 crore, registering a growth of 6.39 per cent. Total Deposits reached ₹14,290.31 crore from ₹13,351.65 crore, a growth of 7.03 per cent. CASA’s share of total deposit was 30.66 per cent.

Retail term deposits registered a growth of 9.17 per cent to reach ₹7,189.75 crore from ₹6,586.01 crore.

Shivan J K, Managing Director and CEO, stated, “The bank’s performance for the financial year 2023-24 is satisfactory with gross NPA contained and showcasing our resilience and strategic focus. Looking ahead, I am optimistic about the bank’s prospects, as we anticipate leveraging the current positive market conditions to drive further growth.”

Gross advances improved to ₹10,396.90 crore from ₹9,853.73 crore. Gold loans registered a growth of 24.87 per cent to reach ₹2,838.86 crore from ₹2,273.52 crore. Credit Deposit ratio as on March 31, 2024 was 72.75 per cent.

During the financial year, the bank made a recovery from written-off accounts amounting to ₹30.18 crore. As on March 31, 2024, gross NPA came down 114 bps and provision coverage ratio stood at 88.32 per cent. Return on Assets and Return on Equity were 0.38 and 5.62 per cent respectively.

Business growth and growth in retained earnings lead to an increase in balance sheet size by 5.49 per cent from ₹15,132 crore to ₹15,962 crore. Earnings per share was ₹2.29. Book Value of shares was ₹40.70 and market capitalization improved from ₹365.60 crore to ₹1,043.67 crore .