Dhanlaxmi Bank business grows 53

Dhanlaxmi Bank said its total business advances and deposits grew 53 per cent to Rs 13,077 crore for the first quarter ended June 30,2010 from Rs 8,559 crore for the corresponding period,previous year. The banks business growth rates compare favourably with that of the banking industry during this period. Net profit for the quarter amounted to Rs 6 crore,compared to Rs 10 crore for the quarter ended June 2009,reflecting the banks on-going investment in people,products,processes,technology and infrastructure.

It has posted an impressive growth in total deposits from Rs 5,071 crore as on June 30,2009 to Rs 7,747 crore as on June 30,2010 recording a growth of 53. Net advances rose at a similar pace,up 53 from Rs 3,489 crore to Rs 5,329 crore during the same period. The bank8217;s total income increased from Rs 136 crore to Rs 199 crore for the same period this year,recording a growth of 46.