Private sector Dhanlaxmi Bank on Saturday said it will raise up to Rs150 crore by issuing bonds in one or more tranches within a year. The decision was taken at the bank’s annual general meeting that was held on 30 September, the bank said in a regulatory filing.
The shareholders authorised the board of directors to issue redeemable secured/unsecured non-convertible debentures in one or more tranches subject to an aggregate limit of Rs150 crore within a period of one year from the date of approval of this resolution, the bank said.
In the fiscal ended March 2017, Dhanlaxmi Bank reported a net profit of Rs12.38 crore. The bank had made a net loss of Rs209.45 crore in 2015-16. The bank’s gross non-performing assets (NPAs) stood at 4.78% of the gross advances as on 31 March while net NPAs, as a percentage of net advances at the end of March this year, came in at 2.58%. The respective figures stood at 6.36% and 2.78% as of 31 March 2016.
Source: Mint