Profit before tax and provisions grew up by 22.9 per cent to Rs 109.27 crore (Rs 88.92 crore). The bank has made higher provisions of Rs 95.78 crore for the half year, including a provision of Rs 25 crore for diminution in value of investments. The capital adequacy ratio stood at 11.14 per cent as on September 30, which was much above the minimum stipulated requirement of nine per cent. According to a release by the bank "despite difficult market conditions, the bank has been able to keep its business levels growing.

Knowing fully well that of the squeezing scenario and that it would not be easy for a bank to keep its profit growing merely on the back of interest margin alone, the bank diversified its activities during the period. It ventured into gold trading and has proposed to increase the number of centres where this business can be introduced".

Total deposits of the bank has registered a growth of 14.7 per cent on year-on-year (YoY) basis to Rs 13,881 crore (Rs 12,107 crore). The growth in average deposits has been higher at 20.5 per cent. "It may be worthwhile to note that the bank has been successful in bringing down the average cost of deposits", the release added.

The net advances of the bank showed an increase of 9.34 per cent to Rs 7,279 crore (Rs 6,658 crore). The growth in average advances has been higher at 13.5 per cent.

Export credit registered a healthy growth of 20 per cent to Rs 984 crore (Rs 819 crore) and as at the end of the half year, constituted 12.6 per cent of net credit against RBI stipulation of 12 per cent. The priority sector advance rose by 12.9 per cent to Rs 3,213 crore (Rs 2,845 crore) constituted 44.5 per cent of net credit against the 40 per cent norm.

Investments went up by 22.5 per cent on YoY basis to Rs 7,131 crore (Rs 5,824 crore) and the average growth has been still higher at 27.3 per cent.

The total income of the bank increased by 12.7 per cent as the same increased to Rs 976.13 crore (Rs 865.83 crore). The total expenses rose by 11.6 per cent to Rs 866.86 crore (Rs 776.91 crore). Out of this increase, a large chunk is due for payment of arrears to employees on account of wage revision. The staff related expenses thus increased by Rs 24.69 crore.

Dena bank has already computerised about 85 per cent of its metro/urban branches and over 69 per cent of the bank's business. As many as 529 branches have so far been computerised, out of which, 250 are fully computerised.