DCB Bank Q2 net profit at Rs. 59 crores

DCB Bank Q2 net profit at Rs. 59 crores

 

DCB Bank has reported a net profit at Rs. 59 crore as against Rs 48.5 crore in the year-ago period for the second quarter.

The operating profit was at Rs. 124 crore as against Rs.101 crore to last year.

The Net interest income was up 30.5% year-on-year (yoy) at Rs 248 crore as against Rs. 190 crore in the year-ago period).

Non-Interest Income of Rs. 65 Cr. against Rs. 62 Cr. for the same period as compared to last year.

Net Advances grew to Rs. 17,395 Cr. as on September 30, 2017 from INR 14,436 Cr. as on September 30, 2016 a growth rate of 20%.

As on September 30, 2017, the Bank grew Deposits by 16% to Rs. 20,567 Cr. Retail CASA & Retail Term Deposits continued to provide a stable resource base to the Bank. Retail Deposits (including Agri and Inclusive Banking) were 77% of Total Deposits.

CASA ratio stood at 25.88% as on September 30, 2017 as against 21.91% as on September 30, 2016, with Savings Accounts year on year growth rate of 42%.

Murali M. Natrajan, Managing Director & CEO said,”We are delighted to have completed the 150+ new branches roll out plan exactly in two years as planned. Most of the new branches are performing well. We remain cautious with respect to loan growth. We have to continue to be vigilant in managing credit quality.”