DCB Bank Q2 profit jumps 25%

Private sector lender DCB Bank's second quarter (July-September) profit grew by 24.7 percent to Rs 73.44 crore compared to year-ago, driven by NII, other income and operating income.

Net interest income during the quarter increased 13.6 percent to Rs 281.84 crore YoY, with loan growth of 27 percent at Rs 22,069 crore in Q2. Net interest margin for 02 FY2019 stood at 3.83 percent, which fell compared to 4.22 percent in year-ago and 3.90 percent in June quarter.

Deposits grew by 27 percent year-on-year to Rs 26,169 crore in the quarter ended September 2018, the bank said, adding. Private sector lender DCB Bank's second quarter (July-September) profit grew by 24.7 percent to Rs 73.44 crore compared to year-ago, driven by NII, other income and operating income.

Net interest income during the quarter increased 13.6 percent to Rs 281.84 crore YoY, with loan growth of 27 percent at Rs 22,069 crore in Q2. Net interest margin for 02 FY2019 stood at 3.83 percent, which fell compared to 4.22 percent in year-ago and 3.90 percent in June quarter.

Deposits grew by 27 percent year-on-year to Rs 26,169 crore in the quarter ended September 2018, the bank said, adding

Read More

DCB Bank Q1 result, profit rises 6.6%

Private sector lender DCB Bank's June quarter profit increased 6.6 percent to Rs 69.50 crore, backed by net interest income and lower provisions.

Profit in the year-ago quarter stood at Rs 65.22 crore.

Net interest income, the difference between interest earned and interest expended, grew by 17 percent to Rs 272.97 crore for the quarter ended June 2018, compared to Rs 233.16 crore in corresponding period last fiscal. Net interest margin contracted to 3.90 percent in Q1FY19 as against 4.23 percent in Q1FY18 and 4.09 percent in Q4FY18.

"Net advances grew 31 percent year-on-year to Rs 21,243 crore while deposits increased 31 percent to Rs 25,032 crore in Q1," the bank said.

Provisions for bad loans dropped 6.4 percent year-on-year and 14.4 percent sequentially to Rs 33.23 crore in April-June quarter.On the asset quality front, gross non-performing assets (NPA) in Q1 were higher at 1.86 percent against 1.79 percent in previous quarter while net NPA remained unchanged at 0.72 percent quarter-on-quarter.

Other income (non-interest income) dropped 2.94 percent year-on-year to Rs 82.83 crore while operating profit increased 3.66 percent to Rs 141.41 crore in Q1."Q1FY2019 included onetime treasury gain of Rs 10 crore as against Rs 21 crore in Q1FY2018," the bank said.

Read More

DCB Bank Q4 result, net profit rises

                         

DCB Bank Ltd on Saturday reported a net profit of Rs64 crore in the fourth quarter ended March of 2017-18 on the back of increase in operating profit.

The private sector lender had posted a profit after tax (PAT) of Rs53 crore in the year-ago period. In a regulatory filing, the bank said its operating profit rose to Rs142 crore during the quarter from Rs115 crore in the corresponding quarter of 2016-17, an increase of 23%.

“Branch expansion strategy seems to be delivering expected outcomes, so far we are making satisfactory progress. Our intention is to achieve steady, consistent and profitable growth while ensuring low NPAs (non performing assets),” DCM Bank’s MD and CEO Murali M. Natrajan said.

The bank said it earned a net interest income of Rs264 crore as against Rs220 crore in the same period of the last year, a growth rate of 20%. Besides, it earned non-interest income of Rs85 crore during the quarter under review, against Rs63 crore in the same period of the previous fiscal, an increase of 34%.

Also, the bank on Saturday informed BSE that its board of directors have recommended a dividend of Rs0.75 per equity share of Rs10 each for the year ended 31 March.

Read More

DCB Bank's Q3 net profit up 11%

DCB Bank today reported a net profit of Rs 57 crore for the third quarter ended December 2017, up 11 percent year-on-year.

The private sector lender had posted a profit after tax (PAT) of Rs 51 crore in the third quarter of 2016-17.

Read More

DCB Bank Q2 result, profit up 21%

Private lender DCB Bank has reported a rise of 21% in its net profit at Rs59 crore for quarter ended September.

The bank had registered a net profit of Rs48 crore in the July-September quarter of 2016-17.

Total income of the bank grew by 24% to Rs313 crore during the reported quarter, from Rs252 crore in the year ago period, the bank said in a statement.

Net interest income or the core income of the bank rose to Rs248 crore in the second quarter of 2017-18 from Rs190 crore in the year ago period.

Read More

DCB Bank Q1 profit rises 39% to Rs65 crore

Small private lender DCB Bank posted a 38 percent rise in profit after tax of Rs 65 crore in the first quarter of financial year 2017-18. The profit in the same quarter a year ago was at Rs 47 crore.

During the period, net interest income (NII) or difference between interest earned and expended) grew to Rs 233 crore, up 32 percent from Rs 177 crore in the first quarter of FY17.

Read More

DCB Bank Q4 result, profit down 24% to Rs52.86 crore

DCB Bank Ltd on Friday reported 24% drop in net profit for the fourth quarter on higher provisioning and higher tax expense.

Net profit for the quarter was Rs 52.86 crore as compared to Rs 69.53 crore a year ago. Nine analysts polled by Bloomberg had forecast a net profit of Rs 53.72 crore.

Net interest income (NII), or the core income a bank earns by giving loans, increased 30.57% to Rs 220.26 crore from Rs 168.69 crore last year. Other income increased to Rs 63.59 crore from Rs 61.45 crore in the same period last year, a rise of 3.48%.

Read More

DCB Bank Q3 result, Profit up

Private sector lender DCB Bank Ltd on Saturday reported a 25% surge in December quarter net profit at Rs51 crore, driven primarily by a growth in the core interest income.

The lender had reported a post-tax profit of Rs41 crore in the year-ago period. Its net interest income rose 31% to Rs209 crore, while the non-interest income was up Rs36 crore to Rs64 crore during the quarter. The share of low-cost current and savings account balances increased to 25.85% as on 31 December, from the 21.91% three months ago, on the back of a surge in deposits following the government’s demonetisation move.

The surge in deposits, coupled with a massive slowdown in advances (which grew only 2% sequentially) led to a drop in the credit-deposit ratio to 77.41% from 83.33% in the year-ago period. The bank’s net interest margin was down 3.95% as against 3.96% in the year-ago period, primarily due to pressure on yield on advances, managing director and chief executive Murali Natrajan said. He added the bank is confident of sustaining the number but may not bother much if it dips to up to 3.70%.

Read More