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Dhanlaxmi Bank is expecting to bring down gross NPA to about Rs 300 crore in the coming quarters.
In an interview to CNBC-TV18, PG Jayakumar says the upgradation of the bank is not much this time around. “Recovery is about Rs 16 crore in full quarter. We will recover more than Rs 300 crore in full year,†he adds.
Dhanlaxmi Bank earned a net profit of Rs 2.62 crore for the fiscal ended March 2013, compared to a net loss of Rs 115.63 crore for the fiscal ended March 2012.
In an exclusive interview with CNBC-TV18, Bipin Kabra, CFO of Dhanlaxmi Bank says that the company is confident to continue at a similar growth rate of 75% plus for FY12. “We have been growing at about four times the industry, at 70-75% odd growth. We would continue similar growth in another year or so before we reduce the growth rate,” he says.
Mid-cap Indian banks reported strong profits for October-December on Friday, riding on robust loan growth and increased corporate activity, but rising interest rates could weigh on margins going forward.