Dhanlaxmi Bank Surges Almost 5% Following Strong YoY Q4 Results

Dhanlaxmi Bank experienced a significant surge of nearly five per cent during the morning session on the Bombay Stock Exchange (BSE) on Wednesday, 3 April 2024, following the release of positive fourth-quarter Year-on-Year (YoY) results. However, the bank's performance did not fare as well on a quarter-on-quarter (QoQ) basis.

Starting the day at Rs 44.91, the stock rose to its intraday high of Rs 46.91, marking a notable increase of 4.99 per cent compared to its previous close of Rs 44.68. As of 10:43 am on Wednesday, the stock was trading at Rs 44.91.

Dhanlaxmi Bank's Q4 Results The bank disclosed its fourth-quarter results on Tuesday, revealing a 6.30 per cent YoY increase in its total business. Additionally, the bank witnessed a 5.63 per cent YoY growth in gross advances.

During the same period, the bank's gold loan portfolio experienced a significant surge, soaring by 24.85 per cent.

While the bank's total deposits showed a positive growth of 6.80 percent YoY, they witnessed a marginal decline of 0.60 per cent QoQ.

Moreover, the bank's Current Account and Savings Account (CASA) saw a modest YoY increase of 2.84 per cent but experienced a slight decline of 1.8 per cent QoQ.