Date:01/08/2008 URL: http://www.thehindu.com/2008/08/01/stories/2008080155981700.htm

Business

Dhanalakshmi Bank Q1 profit up 57.36 %

Staff Reporter

Thrissur: Dhanalakshmi Bank has reported a net profit of Rs. 9.52 crore for the first quarter of 2008-09 ended on June 30, as against Rs. 6.05 crore in the corresponding period of the previous year, registering a growth of 57.36 per cent.

The total income of the bank increased from Rs. 83.12 crore to Rs. 99.95 crore, a growth of 20.25 per cent.

Non-interest income increased from Rs. 6.06 crore to Rs. 12.91 crore, showing a growth of 113.03 per cent.

The total deposits in the bank increased from Rs. 3,194 crore to Rs. 3,829 crore while total advances moved up from Rs.1,919 crore to Rs. 2,267 crore.

The share of low-cost deposits in the total deposits improved from 26.93 per cent to 29.51 per cent.

Priority sector advances as a percentage of net bank credit touched 48.57 per cent, above the RBI benchmark of 40 per cent.

Agricultural advances as a percentage of net bank credit for the same period was 18.47 per cent, as against the RBI norm of 18 per cent.

Involvement in micro finance without standings under this sector increased from Rs. 63.02 crore to Rs. 94.54 crore.