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.
Non-interest income increased to Rs 86 crore as compared to Rs
60 crore for the same period driven by one-time treasury gain of Rs 21 crore as
against Rs 10 crore last year.
The bank’s net interest margin improved to 4.23 percent from
4.05 percent.
The gross non-performing assets (NPAs) showed a slight uptick
with the gross NPA ratio at 1.74 percent of total advances as on June 30, 2017
as compared to 1.72 percent last year. Similarly, net NPA ratio also edged up
to 0.92 percent as compared to 0.87 percent a year ago.
Provisions towards the bad loans also rose to Rs 35 crore from Rs
21 crore.
As on June end, both net advances and deposits grew by 22
percent to Rs 16,266 crore and Rs 19,155 crore, respectively.
Murali M. Natrajan, the bank’s Managing Director and CEO said,
"We have almost completed the branch expansion plan that commenced in
October 2015. As of now we are satisfied with the progress made. We continue to
remain cautious in terms of balancing growth and portfolio quality.”
During the quarter, the new generation private sector bank
increased its branch network by 28 branches to 290 across 19 states and 3 union
territories.
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