Dena Bank on Tuesday reported a net loss of Rs575.26 crore for the March quarter against a Rs326.28 crore loss recorded a year ago due to deterioration in asset quality.
Net interest income, the difference between interest earned on loans and that paid on deposits, rose 14.08% from a year ago to Rs450.07 crore at the end of the March quarter compared with Rs625.71 crore a year ago. Other income rose 45.90% to Rs314.97 crore at the end of the quarter, compared with Rs215.87 crore a year ago.
Provisions during the quarter were Rs972.04 crore, against Rs900.94 crore a year ago and Rs484.43 crore in the preceding quarter.
Gross non-performing assets (NPAs) as a ratio of gross advances were at 16.27%, against 14.79% as of 31 December. Net NPA ratio at the end of the fourth quarter was 10.66%, slightly up from 9.52% in the third quarter.
Capital adequacy ratio on 31 March stood at 121.39% against 11.08% a year ago.
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