Dena Bank disappoints Q2 with net loss of Rs 44.32 crore

Dena Bank's reported net loss of Rs 44.32 crore for the second quarter September 30, 2016, compared to net profit of Rs 38.76 crore in the corresponding period of the previous year. However, the Q2 net loss has narrowed against net loss of Rs 279.35 crore reported in the preceding quarter. 

The net interest income was at Rs 671.49 crore, witnessing growth of 2.22% year-on-year (yoy) and 8.15% quarter-on-quarter basis. 

Provisions and contingencies stood at Rs 542.25 crore, which was up by 91.25% yoy but down by 18.68% qoq. Gross non-performing assets was at 13.79%, expanding by 695 basis points yoy and 191 basis points qoq. 

Total advances for this quarter saw a sequential decline by 1.28% to Rs 74190.9 crore against Rs 75,159.64 crore.