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DBS bank registers four-fold increase in profit

DBS bank registers four-fold increase in profit
PTI
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First Published: Thu, Jun 18 2009. 08 59 PM IST
Updated: Thu, Jun 18 2009. 08 59 PM IST
New Delhi: Foreign lender DBS Bank India today reported a four-fold jump in profit after tax at Rs259 crore for the fiscal ended 31 March.
The bank had a profit after tax of Rs65 crore in the FY’08, DBS Bank India said in a statement.
The revenue of the bank rose to Rs616 crore in financial year 2008-09 from Rs207 crore in the previous year.
The banking entity’s balance sheet grew by 38% to Rs12,564 crore for the year ended March 2009 from Rs9,086 crore in the last fiscal.
With a net worth of Rs1,385 crore and capital adequacy ratio of 15.7% as of 31 March, DBS’ operations in the country are well-capitatlised, the statement said.
Commenting on the company’s result DBS Bank India GM and CEO Sanjiv Bhasin said, “It was a year of challenges for corporates.”
“We registered an impressive top line and bottom line growth despite an adverse economic environment by expanding our client base and engaging with them at various levels to understand their requirements and accordingly offer optimal solutions,” he addeed.
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First Published: Thu, Jun 18 2009. 08 59 PM IST