Public sector Dena Bank expects to achieve a total business of Rs 1.5 lakh crore by the end of this fiscal on the back of sound growth in deposits and advances, a top bank official said.
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.
The monsoon shortfall so far has not deterred Dena Bank's credit growth projections for the current year. "We are looking at credit growth of 20-25% during the current fiscal," Dena Bank Chairperson and Managing Director Nupur Mitra said today at an interactive session with the Bharat Chamber of Commerce.
Public sector lender Dena Bank has reported more than 62% year-on-year jump in its fourth quarter (Jan-March) net profit to Rs 255 crore, driven by one time tax refund. For the fiscal year 2011-12, net profit rose 31% y-o-y to Rs 803 crore.