Dena Bank recently announced it second quarter results for FY 17-18. NewsBarons provides you the highlights of an Analyst meet, where Ashwani Kumar, Chairman & Managing Director of Dena Bank informed “We will be focusing on Retail, Agriculture and MSME segment.”
NB: Brief us about your Financials?
Ashwani Kumar: Dena Bank reported results for the second quarter ended 30th September, 2017. The net loss for the quarter stood at INR 185.02 crore. Total income stood at INR 2,608.83 crore for the quarter. The total provisions for the quarter was at INR 582.37 crore.
NB: What were the Gross NPA and Net NPA for the quarter?
Ashwani Kumar: The gross NPA was at 17.23% and net NPA was at 10.61%.
NB: What is your outlook on margins?
Ashwani Kumar: The NIM (Net Interest Margins) for the quarter was at 2.12%.We expect NIM to be in range of 2.20% to 2.25%.
NB: What was the CASA Deposits for the quarter?
Ashwani Kumar: We have maintained our CASA ratio. The CASA Deposits for the quarter stood at INR 40,859 crore
NB: What is your target for credit growth?
Ashwani Kumar: We expect credit growth of 5-6% for the next fiscal.
NB: What will be the major focus areas going forward?
Ashwani Kumar: We will be focusing on Retail, Agriculture and MSME segment. The bank will also focus on growth in Non-Interest income.
NB: What are the other initiatives bank is coming up with?
Ashwani Kumar: The bank is coming up with initiatives such as branch rationalization process and to maintain current level of 1874 branches. It will also strengthen loan processing Centres.