Rating agency, CARE Ratings has revised ratings assigned to various long term debt instruments issued by Dena Bank. The rating agency has also revised rating of Lower Tier II Bonds (Basel II Compliant) to ‘A+’ from ‘AA-’ with negative outlook and rating of Tier II Bonds (Basel III Compliant) to ‘A+’ from ‘AA-’ with negative outlook.
CARE has also reaffirmed ratings assigned to company’s Perpetual Bonds and Additional Tier I Perpetual Bonds to ‘A’ and ‘BBB+’ with negative outlook, respectively.
The Bank has reported a net loss of Rs 132.65 crore for the quarter ended June 30, 2017, as compared to a net loss of Rs 279.35 crore for the same quarter in the previous year. Total income of the Bank decreased by 9.87% at Rs 2620.28 crore for Q1FY18 as compared Rs 2907.35 crore for the corresponding quarter previous year.
