Dena Bank is planning loan restructuring package for small and medium enterprises, which is the lifeline of the mid-sized state-run lender. The bank will not provide restructuring package across the board, but will adopt wherever the businesses are still viable. It is witnessing stress at the clients’ end with the economic growth slumping to about 5.3% from as high as 9% before the 2008 credit crisis.
The bank has registered rise of 23.79% in its net profit at Rs 239.64 crore for second quarter ended September 30, 2012 as compared to Rs 193.58 crore in the corresponding month previous year. The total income of the bank has also increased by 33.23% to Rs 2327.84 crore for the quarter under review as compared to Rs 1747.19 crore in the same month last year
