Dena Bank eyes 20% growth in its bottom-line this fiscal

State-run Dena Bank is aiming to achieve a growth of 20 per cent in its bottom-line this fiscal. The bank is also targeting expansion of the Net Interest Margin (NIM) to 2.7 per cent level by concentrating more on the retail deposits. The city-based lender reported NIM of 2.32 per cent for the March quarter, down from the 2.66 per cent it had reported in the year-ago period. Further, the bank has sought a capital infusion of Rs 1,200 crore from the government for FY15 to cement its core capital base, which has gone below the 8 per cent mark. For the year ended March 31, 2014, the bank posted fall of 31.92% in its net profit after tax at Rs 551.66 crore as compared to Rs 810.38 crore for the same period in the previous year. However, total income of bank increased by 14.02% at Rs 10895.20 crore for year under review as compared to Rs 9554.85 crore for the period ended March 31, 2013.