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Feb 14, 2018 07:19 PM IST | Source: PTI

Dena Bank slips in red with Rs 380 crore loss in Q3

On the asset quality front, the gross NPAs further deteriorated to 19.56 percent from 14.79 percent in the same quarter a year ago.

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State-run Dena Bank today reported a loss of Rs 380.07 crore for the third quarter ended December 31, due to a surge in bad loans and provisioning.

The bank had posted a profit of Rs 35.3 crore in the same quarter last year.

Total income also declined to Rs 2,475.96 crore from Rs 2,999.5 crore in the December quarter for the previous fiscal.

On the asset quality front, the gross NPAs further deteriorated to 19.56 percent from 14.79 percent in the same quarter a year ago.

Net NPAs went up to 11.52 percent from 9.52 percent at the end of December 2016.

The bank’s Board has also approved a proposal to raise share capital worth Rs 3045 crore “by way of Preferential issue of Equity shares up to an amount of Rs. 3045 crore (including premium), to government of India (GOl), subject to permission / approvals regulatory authorities and shareholders.

As a result, provisions for bad loans more than doubled to Rs 1,044.28 crore as against Rs 426.62 crore in the year-ago period.
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