DCB Bank reported a 38 per cent increase in net profit at Rs 65 crore in the first quarter ended June 30, 2017 as against Rs 47 crore in the year ago period.
Net interest income rose 32 per cent in the reporting quarter at Rs Rs 233 crore as against Rs 177 crore in the year ago quarter.
Non interest income was up 43 per cent at Rs 86 crore (Rs 60 crore in the year ago period).
As on June 30, 2017, net advances grew to 22 per cent year-on-year (yoy) to Rs 16,266 crore as on June 30, 2017. As on June 30, 2017, the bank’s deposits grew by 22 per cent year-on-year to Rs 19,155crore.
CASA (current account, savings account) ratio in total deposits improved to 26.85 per cent as on June 30, 2017 as against 23.08 per cent as on June 30, 2016.
Net Interest Margin for the reporting quarter stood at 4.23 per cent as against 4.05 per cent for the year ago quarter.
Gross non-performing assets (GNPAs) ratio nudged up to 1.74 per cent as on June-end 2017 as against1.59 per cent as on March-end 2017. In absolute terms, GNPAs increased to Rs 2,853 crore as as on June-end 2017 as against Rs 2,542 crore as on March-end 2017.
Murali M. Natrajan, Managing Director & 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.”
The capital adequacy ratio improved to 15.25 per cent as on June-end 2017 from 13.76 per cent as on March-end 2017.