Dena Bank see net NPA of 1.6-1.7% in FY11
Dena Bank expects to have a net non-performing asset (NPA) ratio of 1.6% to 1.7% for FY11, Executive Director Ashok Dutt told reportes on Thursday.
January 28, 2011 / 14:07 IST
Dena Bank expects to have a net non-performing asset (NPA) ratio of 1.6% to 1.7% for FY11, Executive Director Ashok Dutt told reportes on Thursday.
"Next quarter again there will be some pressure on NPA," Chairman and Managing Director DL Rawal said."I would say some of the accounts are showing concern," Rawal said, adding there could be fresh NPAs in sectors such as textile and manufacturing in the fourth quarter.In October-December, the bank reported net NPA of 1.26%, marginally higher than 1.19% in the year-ago period.Dena Bank sees net interest margin of around 3% for 2010/11, Dutt said.In October-December quarter, net interest margin stood at 3.27%, compared with 2.53% a year ago.Dena Bank also expects a cash infusion of Rs 520 crore from the government by March, Rawal said. Earlier in the day, the bank said it posted a 15% rise in net profit at Rs 155 crore for October-December quarter. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
