FY24 Annual Result Announced for Dhanlaxmi Bank Ltd.
Dhanlaxmi Bank announced FY24 results: Net Profit increased by 17.14% Interest income increased by 12.67% Non Interest Income increased by 104.75% Total Income increased by 18.66% Total business reached to Rs 24,687.21 crore as on March 31, 2024 from Rs 23,205.38 crore as on March 31, 2023, registering growth of 6.39% Total Deposits reached to Rs 14,290.31 crore as on March 31 9 2024 from Rs 13,351 .65 crore as on March 312023, recording 7.03% growth. CASA share on Total Deposit of the Bank as on March, 2024 was 30.66%. Retail Term Deposits registered a growth of 9.17% to reach Rs 7,189.75 crore as on March 31, 2024 from Rs 6,586.01 crore as on March 31, 2023. Gross advances improved to Rs 10,396.90 crore as on March 31, 2024 from Rs 9,853.73 crore as on March 31, 2023, recording a 5.5 1% growth. Gold Loans registered a growth of 24.87% to reach Rs 2,838.86 Crore as on March 31, 2024 from Rs 2,273.52 crore as on March 31, 2023 Credit Deposit ratio as on March 31, 2024 was 72.75% CRAR as on March 31, 2024 was 12.71% with Core CRAR of 11.36% Return on Assets and Return on Equity as on March 31, 2024 was 0.3 8% and 5.62% respectively. Business growth and growth in retained earnings lead to increase in balance sheet size of the Bank by 5.49% from Rs 15,132 crore to Rs 15,962 crore. Earnings per share as on March 31, 2024 was Rs 2.29 Book Value of shares as on 31st March 2024 was Rs 40.70 and Market capitalization improved from Rs 365.60 crore to Rs 1,043.67 crore on YoY basis Commenting on the financial results and performance, Shivan J K, Managing Director and CEO of the Bank, stated, "The Bank's performance for the financial year 2023 -24 is satisfactory with Gross NPA contained and showcasing our resilience and strategic focus. Looking ahead, I am optimistic about the Bank's prospects, as we anticipate leveraging the current positive market conditions to drive further growth." Result PDF23-05-2024
