Advances from Dhanlaxmi Bank in Q4 grew by 4.75%

Dhanlaxmi Bank reported that advances increased 4.75 per cent year on year (y-o-y) during the fourth quarter of the previous fiscal, while deposits increased 7.29 per cent.

As of 31 March 2021, Thrissur-based lenders had received a regulatory submission for Rs 7,121.94 crore compared with Rs 6,798.89 crore as of 31 March 2020. Advances from Dhanlaxmi Bank in Q4 grew by 4.75%

Total deposits stood at Rs 11,699.15 crore at the end of the fourth quarter, up from Rs 10,904.07 crore the previous year.

In the meantime, the portfolio of gold loans increased by 48.13% year-on-year (Y-o-Y) for the fourth quarter. Gold loan advances raised by 5.6 per cent sequentially.

Dhanlaxmi’s third-quarter net profit fell 44.5 per cent year-on-year to Rs 11.8 crore, owing primarily to a higher wage bill and lower interest income.

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