Dena Bank gains on entering into tie-up with Apollo Munich Health Insurance

Dena Bank - (Amalgamated) | Bank - Public | BFSI | BSE: 532121 | NSE: DENABANK

28 Feb 2017 Evaluate

Dena Bank is currently trading at Rs. 38.20, up by 0.25 points or 0.66% from its previous closing of Rs. 37.95 on the BSE.

The scrip opened at Rs. 37.85 and has touched a high and low of Rs. 38.45 and Rs. 37.70 respectively. So far 48,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 43.90 on 07-Jul-2016 and a 52 week low of Rs. 25.85 on 29-Feb-2016.

Last one week high and low of the scrip stood at Rs. 39.05 and Rs. 37.05 respectively. The current market cap of the company is Rs. 3,006.91 crore.

The promoters holding in the company stood at 68.55%, while Institutions and Non-Institutions held 18.62% and 12.82% respectively.

Public sector Dena Bank has entered into a bancassurance tie-up with standalone health insurer Apollo Munich Health Insurance. Under the tie-up, the bank will distribute customized Apollo Munich Health insurance and personal accident policies to its 20 million customers nationwide. Apollo Munich Health has developed specialized health insurance solutions with distinctive benefits and an uncomplicated application process, exclusively for Dena Bank customers.

The Bank has reported a net profit of Rs 35.31 crore for third quarter ended December 31, 2016, as compared to net loss of Rs 662.85 crore for the same quarter in the previous year. Total income of the Bank increased by 10.19% at Rs 2999.51 crore for quarter under review as compared to Rs 2722.23 crore for the quarter ended December 31, 2015.

The Bank’s gross NPA for the October-December quarter of the current fiscal increased to 14.79%, as compared to 9.85% in the same quarter of the previous year. Besides, Bank’s Net NPA stood at 9.52% in Q3FY17.

Dena Bank-(Amalgamat Share Price

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Peers

Company Name	CMP
SBI	1035.05
PNB	108.80
Bank Of Baroda	281.00
Canara Bank	133.80
Union Bank Of India	175.85
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