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DCB Bank’s net profit jumped 61 per cent in the January to March quarter at Rs 63 crore driven by healthy interest income and loan growth.
The private lender (formerly Development Credit Bank) had posted a net profit of Rs 39 crore in the same quarter a year ago.
For the full year 2014-15, the bank’s net profit rose 26 per cent at Rs 191 crore as against Rs 151 crore in fiscal year 2013-14.
During the quarter, net interest income (difference between interest earned and expended) increased to Rs 130 crore, up 30 per cent from Rs 100 crore in Q4FY14. Other income increased to Rs 46 crore from Rs 33 crore.
As on March 31, 2015, net advances grew by 29 per cent to Rs 10,465 crore as against Rs 8,140 crore as on March end, 2014. Deposits increased 22 per cent to Rs 12,609 crore from Rs 10,325 crore.
The gross non-performing assets (NPA) increased slightly to 1.76 per cent as on March end, 2015 as compared with 1.69 per cent as on March end 2014. Net NPA also rose to 1.01 per cent from 0.91 per cent.
Net interest margin for the full year FY2015 stood at 3.72 per cent as against 3.56 per cent for FY 2014. For the quarter, NIM was at 3.75 per cent as against 3.59 per cent for Q4 FY 2014.
Capital adequacy ratio was at 14.95 per cent under Basel III as on March 31, 2015.
The shares of DCB had closed at Rs 115.25 per share on Monday, up by Rs 0.65 (0.57 per cent) over the previous close.
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