Jaipur: Dena Bank today reported a net profit of Rs 110.99 crore for the fourth quarter ended March 31, compared to Rs 43.80 crore in the corresponding quarter last year.



The year-on-year profit grew by almost 79 per cent to Rs 359.79 crore from Rs 201.56 crore last year, Dena Bank CMD P L Gairola told reporters here today.

The bank has also recommended a dividend of 10 per cent against 8 per cent declared last year, he said.

Bank's business mix improved by 23.62 per cent to Rs 5,7324.34 crore from Rs 4,6372.98 crore in 2006-07. Low cost deposits constituted 39.25 per cent of the total deposits, he said, adding the yield on advances increased by 145 bps to 10.11 per cent from 8.66 percentage year ago.

The net NPA ratio declined by 105 basis points and has been brought down to below 1 per cent, compared to 1.99 per cent last year.

Earning per share stood at Rs 12.54, compared to Rs 7.03 last year while the book value per share also improved by Rs 11.29 and stood at Rs 49.18.

In FY'08, The bank also expanded it's network by opening 25 new branches including it's first footprint in the state of Himachal Pradesh, thus increasing the total number of branches to 1,160, he said.