DHANBANK.NSE Dhanlaxmi Bank Ltd.
41
29.35
0.30
(1.01%)
| Market Cap | 7.43B |
| Volume (M) | 1.84M |
| 52-Wk High | 34.10 |
| 52-Wk Low | 13.50 |
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Dhanlaxmi Bank zooms 12% on robust quarterly updateMoneycontrol • 2 months ago
The robust quarterly update sparked hopes of strong earnings performance for the September quarter, prompting investors to lap up shares of Dhanlaxmi Bank
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Dhanlaxmi Bank announced that Sridhar Kalyanasundaram (DIN 02732352), Independent Director of the Bank, has resigned from the Board of Directors of the Bank w.e.f 16 September 2023.
Dhanlaxmi Bank announced that the Annual General Meeting (AGM) of the bank will be held on 30 September 2023.
Dhanlaxmi Bank will hold a meeting of the Board of Directors of the Company on 31 July 2023.
Of this, gold loans amounted to Rs 2,274 crore (up 23.39% YoY and up 9.12% QoQ).Total deposits of the bank rose by 7.45% to Rs 13,327 crore as on 31 March 2023 from Rs 12,403 crore as on 31 March 2022. The banks deposits have risen by 3% from Rs 12,939 crore as on 31 December 2022.Total business of the bank aggregated to Rs 23,194 crore, up 11.26% YoY and up 4.56% QoQ. CD ratio stood at 74.04% as on 31 March 2023 as against 68.08% as on 31 March 2022 and 71.44% as on 31 December 2022.Dhanlaxmi Bank (DBL) is a Kerala-based small-sized private sector bank headquartered at Thrissur. As on 31 December, 2022, the bank had a presence across 14 States and 1 Union Territory through 249 branches, 265 ATMs and 19 BCs.The banks net profit fell by 10% to Rs 11.19 crore despite a 36% increase in net interest income to Rs 360.60 crore in Q3 FY23 over Q3 FY22.
The appointment of three new directors indicate the warring factions are finally in an agreement.
The verdict on the maintainability of writ petitions can set a precedent in similar cases. The HC has ruled that a private bank’s decision to appoint its Board of Directors is a private affair.
On June 1, Moneycontrol reported that shareholders have raised the alarm on the lender’s financial situation and rising costs even as its board tries to recover from two back-to-back resignations.
The bank’s financials need to be improved and, more importantly, the board needs to be strengthened by inducting more independent shareholders who are truly independent.
Indian markets may make a negative opening today as SGX Nifty, an early indicator of the market, was down 0.64%.Cues from global markets including Asian and the US markets were also weak on concerns that the latest economic data in the US might do nothing to push the Fed off track of aggressive interest rate hikes.RIL, Maruti Suzuki, Tata Motors, Bajaj Auto among stock to watch out for on June 2
