Dena Bank declares dividend of 9% Business of the bank grows 4.2% to Rs, 196,565 crore as of March 31, 2015
Mumbai, May 16 , 2015: Dena Bank has informed BSE that the Board of Directors of the Company at its meeting held on May 15, 2015, inter alia, have recommended a Dividend of 9% i.e. Rs. 0.90 (Ninety paise) per equity share of Rs.10/- each for the year 2014-2015. The dividend will be paid / dispatched to the shareholders within 15 days of approval by the shareholders, at the Annual General Meeting of the Bank.Business of the bank grew 4.2% to Rs, 196,565 crore as of March 31, 2015. Total Income of the Bank grew 5.41% in FY15 to Rs. 11,485 crore.
Shri Ashwani Kumar, Chairman & Managing Director, Dena Bank, declared the Audited results for the Quarter ended March 31, 2015. "Dena Bank is targetting credit growth of 15% and deposit growth of 13%. Bank expects to maintain NIM in the range of 2.5% to 2.75%. Bank targets to open 404 new branches during FY16. Bank will continue to focus on retail and MSME advances. Bank will strengthen loan processing centres," Shri Ashwani Kumar said.
CASA deposits increased by 4.23% y-o-y to Rs. 32120.53 crore. Priority sector advances increased by 8.72% y-o-y to reach Rs. 28454 crore. MSME advances rose 15.42% to Rs. 15256 crore and retail advances increased 12.41% to reach Rs. 10910 crore. During FY15 Dena Bank opened 106 branches.
The Bank has posted a net profit of Rs. 558.20 million for the quarter ended March 31, 2015 as compared to Rs. 1872.80 million for the quarter ended March 31, 2014. Total Income has increased from Rs. 28667.80 million for the quarter ended March 31, 2014 to Rs. 29077.00 million for the quarter ended March 31, 2015.
The Audited results for the Year ended March 31, 2015
The Bank has posted a net profit of Rs. 2654.80 million for the year ended March 31, 2015 as compared to Rs. 5516.60 million for the year ended March 31, 2014. Total Income has increased from Rs. 108952.00 million for the year ended March 31, 2014 to Rs. 114848.20 million for the year ended March 31, 2015.
v IT Initiatives
Ø Bank has provided 1,357 on Site ATMs and 125 off site ATMs
Ø Issue of RuPay Platinum Debit Card.
Ø Mobile Banking on USSD platform has been made operational.
Ø E-KYC has been made operational.
Ø 17 E-Smart customer convenience centers have been made operational. Total 200 centers will be established by March 2016.
Ø E-Payment of Customs Duty and Dena InstaPay has been introduced.
Financial Inclusion Initiatives:
Ø Bank has opened 26.68 lacs accounts under Pradhan Mantri Jan Dhan Yojana [PMJDY] against the target of 18.50 lacs and also issued 25.84 lacs RuPay Cards.
Ø Bank has covered all the allotted 6,439 villages under FI. Out of above 5,758 villages through BC model and 681 villages through Brick & Mortar Branches.
Ø Bank has enrolled 6.07 cr residents for Aadhar Number as of March 2015 and having top position among Non State Registrars (NSR) to UIDAI.
Ø Bank has also successfully launched and implementing Direct Benefit Transfer Scheme as per GOI Guidelines through Aadhar Payment Bridge System (ABPS) and Aadhaar Enabled Payment System (AEPS).
Ø Bank has opened 44.50 lacs BSBDAs (Basis Savings Bank Deposit Accounts) and has extended in build OD facility.
Shri Ashwani Kumar, Chairman & Managing Director, Dena Bank, declared the Audited results for the Quarter ended March 31, 2015. "Dena Bank is targetting credit growth of 15% and deposit growth of 13%. Bank expects to maintain NIM in the range of 2.5% to 2.75%. Bank targets to open 404 new branches during FY16. Bank will continue to focus on retail and MSME advances. Bank will strengthen loan processing centres," Shri Ashwani Kumar said.
CASA deposits increased by 4.23% y-o-y to Rs. 32120.53 crore. Priority sector advances increased by 8.72% y-o-y to reach Rs. 28454 crore. MSME advances rose 15.42% to Rs. 15256 crore and retail advances increased 12.41% to reach Rs. 10910 crore. During FY15 Dena Bank opened 106 branches.
The Bank has posted a net profit of Rs. 558.20 million for the quarter ended March 31, 2015 as compared to Rs. 1872.80 million for the quarter ended March 31, 2014. Total Income has increased from Rs. 28667.80 million for the quarter ended March 31, 2014 to Rs. 29077.00 million for the quarter ended March 31, 2015.
The Audited results for the Year ended March 31, 2015
The Bank has posted a net profit of Rs. 2654.80 million for the year ended March 31, 2015 as compared to Rs. 5516.60 million for the year ended March 31, 2014. Total Income has increased from Rs. 108952.00 million for the year ended March 31, 2014 to Rs. 114848.20 million for the year ended March 31, 2015.
v IT Initiatives
Ø Bank has provided 1,357 on Site ATMs and 125 off site ATMs
Ø Issue of RuPay Platinum Debit Card.
Ø Mobile Banking on USSD platform has been made operational.
Ø E-KYC has been made operational.
Ø 17 E-Smart customer convenience centers have been made operational. Total 200 centers will be established by March 2016.
Ø E-Payment of Customs Duty and Dena InstaPay has been introduced.
Financial Inclusion Initiatives:
Ø Bank has opened 26.68 lacs accounts under Pradhan Mantri Jan Dhan Yojana [PMJDY] against the target of 18.50 lacs and also issued 25.84 lacs RuPay Cards.
Ø Bank has covered all the allotted 6,439 villages under FI. Out of above 5,758 villages through BC model and 681 villages through Brick & Mortar Branches.
Ø Bank has enrolled 6.07 cr residents for Aadhar Number as of March 2015 and having top position among Non State Registrars (NSR) to UIDAI.
Ø Bank has also successfully launched and implementing Direct Benefit Transfer Scheme as per GOI Guidelines through Aadhar Payment Bridge System (ABPS) and Aadhaar Enabled Payment System (AEPS).
Ø Bank has opened 44.50 lacs BSBDAs (Basis Savings Bank Deposit Accounts) and has extended in build OD facility.
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