Disclaimer:This article has been auto-uploaded from the agency feed. It has not been edited by the team of NavbharatTimes.com.
Language , Updated: Aug 2, 2022, 10:41 PM
Mumbai, Aug 2 (PTI) DBS Bank India, a subsidiary of Singapore bank DBS, has posted a net profit of Rs 167 crore for the financial year 2021-22. Giving this information on Tuesday, the bank said that a year ago it had earned a net profit of Rs 312 crore. However, it said 2021-22 was its first full year of operations after the acquisition of Lakshmi Vilas Bank, considering the figures for both the financial years as not comparable. 11 percent of net revenue of DBS Bank, which acquired Lakshmi Vilas Bank in November 2020, in the financial year ended
Giving this information on Tuesday, the bank said that a year ago it had earned a net profit of Rs 312 crore. However, it said 2021-22 was its first full year of operations after the acquisition of Lakshmi Vilas Bank, considering the figures for both the financial years as not comparable.
DBS Bank, which acquired Lakshmi Vilas Bank in November 2020, reported a 11 per cent increase in net revenue to Rs 2,892 crore in the fiscal year ended.
However, during this period his income declined by 52 per cent to Rs 284 crore. He attributed this to the lack of opportunities in the market due to the hike in interest rates.
On the asset quality front, the bank reported the gross non-performing asset ratio at 9.5 per cent at the end of March 2022 as compared to 12.93 per cent in March 2021.
Source: navbharattimes.indiatimes.com
: Language Inputs
This post is sourced from newspapers, magazines and third-party websites. For more information please check NewsDay Express Disclaimer.
