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Saturday, May 29, 1999
Dena Bank net up by 4.8 per cent
MUMBAI: Dena Bank's net profit has gone up in a small way by 4.8 per cent to Rs 110.09 crore in 1998-99, compared to Rs 105.04 crore in the previous year. The total income of the bank, however, showed a stronger growth, going up by 17.5 per cent to Rs 1,645.54 crore from Rs 1,400.56 crore in the previous year. The board, which met here today, has proposed a dividend of 16 per cent corresponding to an outgo of Rs 36.40 crore. The previous year's dividend was 15 per cent. With the cost of funds averaging at a substantial 8.6 per cent, the deposits of the bank grew by 16.6 per cent from Rs 10,115.28 crore in 1997-98 to Rs 11,795.35 crore last year.Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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