Dena Bank today announced its Q3 FY2018-19 results with both Gross and Net NPAs being reduced considerably alongside Net Loss decreasing by 53.12% from Rs 380.07 crores for December 2017 to Rs 178.47 crore for December 2018 on sequential basis. Provision Coverage Ratio improved from 65.27% as on September 30 2018 to 66.60% on December 31, 2019.

Gross NPA to Gross Advances ratio has reduced from 23.64%, as on September 30, 2018 to 19.77% in the current quarter. Net NPA to Net Advances Ratio has reduced from 11.70% as on September 30, 2018 to 10.44% in the current quarter.

Net Interest Income improved from Rs 1975.30 crore in a nine-month-period ending  December 31, 2017 to Rs 2099.32 crore in the corresponding period of the current financial year. CASA Ratio improved from 38.46% as on December 31 2017 to 41.24% as on December 31 2018 with the same being sequentially 41.03% as of September 2018.

Karnam Sekar, MD & CEO, Dena Bank, said the Bank has managed to contain its Slippages which, if not for the shaky ILFS accounts, would have been less than Rs 1,000 crores. Incremental Provisions was only Rs 500 crore and the Asset Book was Rs 65,000 crores, he said while noting that the ARC was quite significant with activity happening every second month — whether sales occurred or not.

Cash Recovery was Rs 700 crores in September 2018 and Rs 1038 in December 2018, besides Upgradation of Rs 417 crores, Slippages of Rs 1100 crores  and Write Offs at Rs 1,000 – all three in December 2018, he said, adding that there was no NCLP this year.

However, Business Mix (Total Deposits and Gross Advances) declined to Rs 1,66,981 crores as on December 31, 2018 as against Rs 1,77,863 crore on December 31, lst year, while Total Deposits decreased by 3.96% from Rs 1,05,420 crores as on December 31, 2017 to Rs 1.01,247 crores as on December 31, 2018.

Replying to questions, he said Dena Bank had no exposure in Jet Airways and Essar Steel — and the coming quarter would witness focus on MSME accounts only, where the exposure is around Rs 6,000 to Rs 7,000 crores . Dena Bank would not be there in its present form after its merger with Bank of Baroda and Vijaya Bank coming into effect from the end of the financial year Q4 FY 2018-19 – in which also no Dena Bank employee would be retrenched, he said.