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Press Release

May, 11th May , 2013

Perfo Performance Highlight ights for the Financial Year / Quarter st ended 31 March 2013
Shri Ashwani Kumar, Chairman and Managing Director, Dena Bank, announced the performance of the Bank after the adoption of the financial results for the Financial Year / Quarter ended 31st March 2013 by the Board of Directors.

Business Growth
1. Aggregate Business: Total Business of the Bank as on 31.03.13 stood at ` 1,63,664 cr as compared to ` 1,34,326 cr as on 31.03.2012. The total business increased by ` 29,338 cr with a growth rate of 21.84% on y-o-y basis. Business per employee has gone up from ` 13.17 cr as on 31.03.2012 to ` 14.75 cr as on 31.03.2013 Business per Branch has improved from ` 107.81cr as on 31.03.2012 to ` 119.03 cr as on 31.03.2013 2. Deposits: Deposits
77167 64210 97207

Total Business
163664 134327 109373

Mar-11

Mar-12

Mar-13

Deposits of the Bank increased to ` 97207.15 cr as on 31.03.2013 from ` 77166.80 cr as on 31.03.2012 recording a growth of 25.97% on y-o-y basis. 3. Advances: The y-o-y growth in Advances was 16.27% from ` 57159.20 cr as on 31.03.2012 to ` 66456.88 cr as on 31.03.2013 The Credit Deposit ratio stood at 68.37%.

Mar-11

Mar-12

Mar-13

a. Direct Agricultural advances of the Bank was at ` 5295 cr as on 31.03.2013 as compared to ` 3875 cr as 31.03.2012 showing y -o-y on gr o wt h of 36.65%. b. MSME advances of the Bank stood at ` 10,673 cr as at 31.03.2013 as against ` 8291 cr as on 31.03.2012, showing y-o-y growth of 28.73%. c. Retail advances increased to ` 7724 cr as on 31.03.2013 as against ` 7282 cr as on 31.03.2012 showing y-o-y growth of 6.07%

Advances
66457 57159 45163

Mar-11

Mar-12

Mar13

Highlights for the Year ended 31.03.2013


1. Net Profit: The Net profit of the Bank for the F Y ended 31st March 2013 increased to ` 810.38 cr as against ` 803.14 cr for previous financial year recording an increase of ` 7.27 cr (0.90%). Operating Profit: The operating profit of the Bank for the FY ended 31st March 2013 was at ` 1,738.86 cr as against ` 1,528.43 cr for previous fiscal recording an increase of ` 210.43 cr (13.77%). During current financial year, the Total income stood at ` 9,554.85 cr in comparison with ` 7,376.30 cr for FY ended 31.03.2012 showing an increase of ` 2,178.55 cr [29.53%]. On comparison with FY 2011-12, the Interest income increased by ` 2,105.26 cr from ` 6794.13 cr to reach ` 8899.39 cr [30.99%] for the FY ended 31.03.2013. Non-interest income was at ` 655.46 cr as at 31.03.2013 as compared to ` 582.17 cr for previous financial year showing an increase of 12.59% . The Net interest Income [NII] for FY ended 31.03.2013 was at ` 2,383.10 cr compared to ` 2101.00 cr for previous financial year recording a growth of 13.43%. Return on Assets [ROA] was at 0. 8 6%, and Return on Equity [ROE] was at 17.62% for the FY ended March 2013. Cost to Income Ratio was reduced from 43.04% for the year ended March 2012 to 42.77% for the Year ended March 2013.

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Earnings per share was at ` 23.15 as on on 31.03.2012.

31.03.2013 as against ` 24.08 as

In FY 2011-12 Bank has issued 166.69 lacs equity shares to LIC on preferential basis in the last week of March-12, therefore, Weighted Average No of Equity Share is considered to calculate EPS for March-12, whereas for FY 2012-13 the total Share Capital is considered to calculate EPS. 10. Book Value per Share rose to ` 156.58 c ompared to ` 126.91 as on 31.03.2012 as o n 31.03.2013 when

11. Net Interest Margin: Interest Spread to average interest bearing assets for Year ended 31.03.2013 has been at 2.80%. 12. The Net Profit per employee at ` 7.31 lakhs and the Net Profit per Branch was at ` 58.94 lakh during year ended 31.03.2013 13. During the year , the Bank opened 122 Branches across the country.

Highlights for the Quarter ended 31.03.2013

The Net profit of the Bank for the Quarter [Q4] ended 31st Mar 2013 d e creased to ` 125.67 cr as against ` 254.79 cr for Q4 of previous fiscal recording decrease of `129.12 cr [-50.68%] mainly due to higher provisions and contingencies of ` 275 cr against ` 221 cr during Q4 of previous year. Higher provision is on NPA ` 143 cr against ` 106 cr & Depreciation on Investment ` 98 cr against ` 36 cr. 2. Operating Profit: The operating profit of the Bank for the Quarter [Q4] ended 31st Mar 2013 was at ` 400.76 cr as against ` 475.51 cr for Q4 of previous fiscal recording decrease of ` 74.75 cr [-15.72%] mainly due to reduction in Base Rate as also rationalization of interest rates on Agriculture, MSME and Retail Advances. 1. Net Profit: 3. Income: Total income for the Quarter [Q4] ended Mar 2013 grew by 17.24% and reached ` 2,539.74 cr as against ` 2,166.36 cr for Q4 of FY 2012. The Interest income also grew by 17.81% over Q4 of FY 2012 to reach ` 2,304.26 cr as on 31.03.2013. Interest Income fr 3o m areas like Commission, Exchange, Brokerage, etc., is at ` 235.48 cr as on 31.03.2013 showing an increase of 11.88% on y-o-y basis.

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Non

5. Net Interest Income (NII) for the Quarter [Q4] ended Mar 2013 was at ` 561.96 cr as against ` 598.37 cr for Q4 of FY 2012 and recorded a decrease of 6.08%. 6. Return on Assets [ROA] was at 0.49%, and Return on Equity [ROE] was at 10.17% for the Quarter [Q4] ended Mar2013 (annualized). 7. Cost to Income Ratio was at 49.74% for the Quarter [Q4] ended Mar 2013.

8. During the quarter, the Bank opened 33 Branches across the country.

Asset Quality & Recovery


1. NPA: Gross NPA stood at 2.19% and Net NPA stood at 1.39% at the end of FY 2012-13 against 1.67% and 1.01% respectively at the end of previous year. In absolute terms the Gross NPAs stood at ` 1,452.45 cr and Net NPA stood at ` 917.18 cr.

2. Cash Recovery: Bank effected cash recovery and up gradation of NPAs of ` 386.57 cr, during the FY 2 0 1 2- 13 compared to ` 414.03 cr in the previous financial year. 3. Provision Coverage: The NPA provision coverage ratio stood at 69.58% with reference to NPA as at 31.03.2013.

Capital & Net worth


1. Capital Adequacy Ratio: Capital Adequacy Ratio under Basel II as on 31.03.2013 is at a level of 11.03% with Tier I at 7.26%. 2. Net worth: Net worth of the Bank stood at ` 4,625.83 cr as o n 31.03.2013 as compared to ` 4256.14 cr as on 31.03.2012.

Going Forward
Bank is targeting credit growth of 16% and deposit growth of 18%. Bank expects to maintain NIM around 3%. Having opened 122 branches during 2012-13, Bank plans to open 150 branches during the FY 2013-14. As a part of Platinum Jubilee Celebrations, Bank has undertaken/ plan various CSR activities like Medi claim to farmer borrowers, donation of wheel chairs to the physically challenged persons, water tanks in the drought hit areas of Maharashtra, Health Checkup Camps, and Scholarships to girl child etc. Bank has initiated monitoring of borrowal accounts online to prevent slippages. At present, Bank is monitoring all accounts above ` 10 cr on daily basis. Bank is in the process of launching various new IT Products viz. Issue of Gift & Travel Cards, Issuance of On-Line Fixed Deposits, Launch of SMS based Help for Customers Grievance Redressal and Service, App on Smart Phones and Tablets, Self Service Lobbies etc Recruitment of fresh talent Bank has initiated the process for recruiting 700 Probationary Officers, 482 Specialist Officers, 894 clerks and 347 sub staff.

FINANCIAL INCLUSION PLAN The Bank has successfully implemented Financial Inclusion Plan (FIP) envisaging road map for provision of banking services through banking outlet in 730 villages. During the FY 2012-13, Bank has covered 1277 villages by setting up of ultra small branches to facilitate financial inclusion plan. These villages are covered by engaging individual Business correspondents. Similarly, Bank has embarked upon urban financial inclusion plan for providing banking services to urban poor, slum dwellers and other inhabitants including migrant workers & Street Vendors /hawkers in select urban areas in the state of Gujarat. As of 31st March 2013, Bank has set up 199 Kiosks against target of setting up 100 Kiosks in urban areas during FY 2012-13. Bank has also launched Direct Cash Transfer Scheme as per Govt. Of India Guidelines through Aadhaar Payment Bridge System (ABPS) and Aadhaar Enabled Payment System (AEPS).

Financial Indicators

[` in Cr]

FY Mar12 Net Profit Operating Profit Total Income Interest Income Net Interest Income Non Interest Income from Core Areas
803.14 1,528.43 7,376.30 6,794.13 2,101.00 582.17

Growth Full Yr FY Mar13 Abs. % 810.38 1,738.86 9,554.85 8,899.39 2,383.10 655.46 7.24

Mar12 [Q4]

Mar13 [Q4] 125.67 400.76 2539.74 2304.26 561.96 235.48

Growth Q4/Q4 Abs. %

0.90% 254.79

-129.12 -50.68% -74.75 -15.72% 373.38 348.37 -36.41 25.01 17.24% 17.81% -6.08% 11.88%

210.43 13.77%

475.51

2,178.55 29.53% 2166.36 2,105.26 30.99% 1955.89 282.10 13.43% 73.29 12.59%

598.37 210.47

As at : Total Business Deposits Net Advances Investments CRAR - Under Basel II Tier I Tier II Net Worth Gross NPAs (as % to gross advances) Absolute Net NPAs (as % to gross advances) Absolute

31.03.2012

31.03.2013

Growth Amt Mar 13/Mar 12

Growth % Mar 13/Mar 12

1,34,326 77,167 56,693 23,208 11.51% 8.86% 2.65%


4,256

1,63,664 97,207 65,781 34,547 11.03% 7.26% 3.77%


4,626

29,338 20,040 9,088 11,339

21.84% 25.97% 16.03% 48.86%

1.67% 956.50 1.01% 571.73

2.19% 1,452.45 1.39% 917.18