Credit rating agency, CARE Rating has revised rating of Dena Bank’s Lower Tier II and III Bonds to ‘AA’from ‘AA+’. The rating agency has also revised rating of the bank’s Perpetual Bonds (Basel II Compliant) at ‘AA-’from ‘AA’. Further, CARE has revised the bank’s Additional Tier I Perpetual Bonds (Basel III Complaint) rating to ‘A+’ from ‘AA-’.
The bank reported 24.85% fall in its net profit at Rs 38.76 crore for the quarter ended September 30, 2015 as compared to Rs 51.58 crore for the same quarter in the previous year. The bank’s total income decreased by 0.46% to Rs 2872.08 crore for the quarter under review from Rs 2885.22 crore for the corresponding quarter of the previous year.
