Dhanlaxmi Bank said on Thursday that its advances grew 4.75% year-over-year (year-over-year) in the fourth quarter of the previous fiscal year, while deposits rose 7.29% during the same period.
Gross advances from the Thrissur-based lender hit Rs 7,121.94 crore as of March 31, 2021, compared to Rs 6,798.89 crore as of March 31, 2020, according to a regulatory statement. Total deposits at the end of the fourth quarter stood at Rs 11,699.15 crore, up from Rs 10,904.07 crore the year before.
At the same time, the gold loan portfolio grew 48.13% year-on-year in the fourth quarter. Sequentially, advances on gold loans increased 5.6%.
Dhanlaxmi reported a 44.5% year-over-year drop in third quarter net profit to Rs 11.8 crore, mainly due to higher payrolls and lower interest income .
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