Dena Bank is planning to increase its post tax profit growth by 20% this financial year. The bank's post-tax profit stood at Rs. 551.6 crore in the previous fiscal, according to a media report.
The bank registered a growth of 15% in advances and 13% in deposits in FY14, the report added.
The bank is also planning to increase its Net Interest Margin (NIM) to 2.7% level by concentrating more on the retail deposits.
Dena Bank net profit stood at Rs 187.28 crore for the fourth quarter ended March 31, 2014.
The bank had posted a net profit of Rs 125.67 crore in the January-March quarter of 2012-13. Total income increased to Rs 2,866.78 crore from Rs 2,539.74 crore.
Net NPAs increased to 2.35% from 1.39% at the end of March 2013.
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