With regards to recapitalization, the bank has worked out and submitted their requirement to the government both for the risk and growth capital, said Ashwani Kumar, Chairman & Managing Director of Dena Bank.
Dena Bank has posted a weak set, extending their net loss streak to 5 quarters now. Gross non-performing assets (NPAs) at over 17 percent remain a big worry and loan book too has declined by nearly 8 percent. In an interview to CNBC-TV18, Ashwani Kumar, CMD of Dena Bank spoke about the results and his outlook for the company.
The bank's total restructured books currently stand at around Rs 7900 crore out of which 27 percent slipped in the last year.
Dena Bank CMD Ashwani Kumar hopes that with credit growth and uptick in the market, the bank will be able to have a CRAR of about 11.5 percent by March 31
Former chairman of State Bank of India AK Purwar says even larger banks will start feeling the heat and pinch of this, not just midcap and small banks. In a neck and neck competition, he says: “It will become a question of survival of the fittest.â€
Dena Bank's exposure to discoms stands at around Rs 7000 crore of which Rs 3300 crore of debt has been restructured, says chairman and managing director Ashwani Kumar.
In an interview with CNBC-TV18, Ashwani Kumar, CMD, Dena Bank said that bank expects NIMs to be impacted by the recent rate cut.
In an interview to CNBC-TV18, VR Iyer, CMD, Bank of India, said that in the wake of rising instances of bad loans and frauds coming to light, the finance ministry has written to all banks asking them to be cautious.
On credit growth side Dena Bank is targeting a growth of around 15-16 percent for FY14. They would mainly focus on retail and small medium enterprise (SME) lending to achieve this growth.
"We have total restructured book of Rs 4,800 crore out of which Rs 2,036 crore is of state electricity boards, which is government guaranteed, so, 43 percent of our portfolio is government guaranteed," said Ashwani Kumar, CMD, Dena Bank in an interview to CNBC-TV18.
In an interview to CNBC-TV18, Nupur Mitra, chairman and managing director of Dena Bank says Q2 net interest margin (NIM) was at 2.86 percent. "We will be maintaining NIM of around 3 percent," she adds.
Chairperson and MD of Dena Bank Nupur Mitra tells CNBC-TV18 that they have no more accounts in the pipeline for restructuring.
Maintaining a net interest margin of 3.22%, DL Rawal, the chairman and managing director of Dena Bank said the bank is likely to sustain the 3% NIMs for FY12.
State-owned lender Dena Bank recently announced its first quarter results for FY12 witnessing a jump in its net profit on a year-on-year basis. The bank registered net interest margin (NIMs) of 2.90% this quarter, and chairman and managing director DL Rawal is confident that the NIMs will stay at 3% by the end of March 2012.
In an interview with CNBC-TV18, DL Rawal, chairman and managing director of Dena Bank, spoke about the latest happenings in his bank and the road ahead.
In an interview with CNBC-TV18, DL Raval, Chairman of Dena Bank spoke about the latest happenings in his company and sector.