Dhanlaxmi Bank Sees 11.5% Growth In Total Business, 10.6% Rise In Deposits
Dhanlaxmi Bank released its Q3FY23 business updates, indicating an 11.5 per cent year-on-year growth in total business, reaching Rs 24,657 crore. During October-December, deposits surged to Rs 14,310 crore, marking a 10.6 per cent yearly increase, while advances grew by 11.9 per cent to Rs 10,347. CASA reached Rs 4,459 crore, up from Rs 4,219 crore.
In the prior quarter, the bank reported a 10.27 per cent year-on-year increase in total business. Deposits during July-September stood at Rs 12,748 crore, showing an 8.17 per cent year-on-year growth. Advances rose by 13.21 per cent from the previous year to Rs 9,109. CASA stood at Rs 4,324 crore, up from Rs 4,219 crore the previous year.
During Q2FY24, Dhanlaxmi Bank witnessed a 46 per cent surge in net profit, reaching Rs 23.16 crore. The bank's operating profit for the first half of the fiscal year surged by 169 per cent to Rs 81.54 crore.
The lender's shares concluded 0.6 per cent higher at Rs 30.85 apiece, marking the fourth consecutive session of gains. Over the last month, the stock has soared by over 72 per cent.
