Private sector lender Dhanlaxmi Bank will raise Rs 130 crore this quarter as part of its efforts to intensify business growth, a senior official said.

The bank, which had a target to mop up Rs 300 crore as Tier-I capital, has already raised Rs 170 crore during the first quarter of the current fiscal.

“The bank has raised Rs 170 crore in the first quarter of this fiscal and will raise another Rs 130 crore in the current quarter. Capital raised will be utilised to intensify business growth and further strengthen the capital adequacy ratio,” Dhanlaxmi Bank Ltd Deputy General Manager L. Chandran said.

The bank’s Capital Adequacy Ratio (CAR) stood at 11.85 per cent for the quarter ended September 30, 2013, as against 11.73 per cent registered during the first quarter of this fiscal.

Dhanlaxmi Bank registered a net loss of Rs 1.85 crore for the second quarter, as compared to a net loss of Rs 18.62 crore registered during the same period last year.

For the half-year ending September 30, its net profit stood at Rs 1.73 crore from a net loss of Rs 30.43 crore registered during the corresponding period of previous year.

For the year ending March 31, 2013, net profits stood at Rs 2.62 crore.

Deposits grew to Rs 11,906 crore for the quarter ending September 30, 2013, as against Rs 11,206 crore registered during the first quarter of the current fiscal.

Net interest income rose to Rs 82.43 crore for the second quarter, as against Rs 63.48 crore registered during the first quarter of the current fiscal.

The yield on advances improved by 12.82 per cent for the quarter from 12.11 per cent registered during the same period a year ago.

Total advances for the quarter stood at Rs 8,116 crore as against Rs 7,695 crore registered during the first quarter of this financial year.

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