Credit rating agency, CARE has assigned ‘AA+’ rating to Dena Bank’s Tier II Bonds (Basel III compliant) worth Rs 800 crore.
The bank has received the ratings on the back of its strong parentage of (GoI) holds 66.57% stake in the bank, as well as expectations of future capital support, comfortable liquidity profile, moderate capitalization levels and profitability.
The bank has reported 67.16% fall in its net profit at Rs 67.80 crore for the quarter as compared to Rs 206.44 crore for the same quarter in the previous year. However, total income of the bank has increased by 10.56% at Rs 2662.80 crore for quarter under review as compared to Rs 2408.42 crore for the quarter ended December 31, 2012.
