Dhanlaxmi Bank earns net profit of Rs 2.62 crore in FY'13

THRISSUR: Private sector lender Dhanlaxmi Bank (DLB) has 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.

DLB General Manager P Manikantan said in a statement here today the bank had made an impressive overall performance despite challenging economic situation during the year under review.

He said operating profits stood at Rs 51.40 crore for the fiscal as against an operating loss of Rs 97.90 crore during the fiscal 20l2.

The yield on advances went up to Rs 12.69 crore as against Rs 11.34 crore previous year.

Manikantan said net interest income was Rs 276.42 crore for the fiscal under review as against Rs 27.53 crore for the previous year, recording an increase of 11.67 per cent.

The bank had disbursed an advance of about Rs 8,000 crore, marking an increase of 12.69 per cent.

The Capital Adequacy Ratio (CAR) under Basel II norm stood at 11.06 per cent for the fiscal as against 9.49 per cent previous year.

DLB mobilised Rs 76 crore as Tier I capital this April , increasing CAR to about 12 per cent.

The bank recovered Rs 228.78 crore Non-Performing Assets for the year under review, he said.

Manikantan also expressed hope that DLB will perform very well in the current fiscal.