2017-08-21 :Dena Bank cuts savings rate by 0.5 per cent on deposits up to Rs. 25 lakh
Public sector lender, Dena Bank has announced a cut in its savings account interest rate. The rates have been reduced by 0.5 per cent to 3.50 per cent on deposits of up to Rs. 25 lakh. For deposits above Rs. 25 lakh the bank has kept interest rate unchanged at 4 per cent per annum.
2017-07-31 :Dena Bank shows improvement in net loss on account of less NPAs
Dena Bank has reported an improvement in its net loss in the current FY18. The Bank has managed to reduce its net loss at Rs.132 from Rs. 280 during the current quarter. Decline in NPAs and strong growth in net interest margins has helped the bank to reduce the amount of net loss.
2017-07-01 :Dena Bank reduces MCLR rates by 0.05 per cent
Dena Bank has slashed its marginal cost of funds based lending rate (MCLR) by 0.05 per cent. For overnight, one month and three month maturities, the rates have been revised to 8.20 per cent, 8.30 per cent and 8.35 per cent and for six month and one year maturity period, the new MCLR rates have been finalized at 8.45 per cent and 8.55 per cent respectively. The new rates are effective from 1st July, 2017.
2017-06-19 :Dena Bank lowers home loan rates by 5-10 basis points
Dena Bank has announced a rate cut of 5-10 basis points in its home loans. The rates have been reduced by 5 basis points to 8.60 per cent for loans upto Rs. 75 lakhs and by 10 basis points to 8.7 per cent for loans above Rs. 75 lakhs. The new home loan interest rates are effective from 15th June, 2017.
2017-06-03 :RBI initiates prompt corrective actions against Dena Bank over bad loans
Reserve Bank of India (RBI) has initiated a prompt corrective action (PCA) against Dena Bank after evaluating its high non-performing assets (NPAs) and negative return on assets (RoAs). The action taken by RBI will help in improving the financial health of the bank by reducing its stressed assets and bad loans.
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