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  • DCB Bank announces First Quarter FY 2014 Results

    Published on July 18, 2013

    Mumbai:DCB Bank (Development Credit Bank Ltd.) declared Q1 FY 2014 Net Profit of Rs. 43 Cr. as compared to the Net Profit of Rs. 19 Cr. for Q1 FY 2013.Underlying Net Profit, excluding the onetime Treasury gains and onetime Operating Costs, was at Rs. 35 Cr. approximately for Q1 FY 2014.

    As on June 30, 2013 the Bank’s Deposits grew by 22% at Rs.8,320 Cr. while Net Advances grew by 19% and stood at Rs. 6,471 Cr. as compared to June 30, 2012.Capital Adequacy Ratio was at 13.89% under Basel II and 13.75% under Basel III.

    July 16, 2013, Mumbai: The Board of Directors of DCB Bank (Development Credit Bank Ltd.) (BSE: 532772; NSE: DCB) at its meeting in Mumbai on July 16, 2013, took on record the limited reviewed financial results of the first quarter (Q1 FY 2014).

    Speaking about the performance Mr. Murali M. Natrajan, Managing Director & CEO said, “While pursuing diversified loans growth and branch expansion agenda, we have to work a lot harder to ensure that Corporate and SME NPAs remain in control. It is not an easy task in the current environment.”

    Highlights:

    a) DCB Bank reported Net Profit of Rs. 43 Cr. in Q1 FY 2014 as against Net Profit of Rs. 19 Cr. in Q1 FY 2013.

    b) As on June 30, 2013, the Balance Sheet was at Rs. 10,993 Cr. as against Rs.9,100 Cr. as on June 30, 2012, a growth rate of 21%.

    c) Retail Deposits (Retail CASA and Retail Term Deposits) continued to provide a stable resource base to the Bank. Retail Deposits were at 80% of Total Deposits as on June 30, 2013.

    d) CASA ratio as on June 30, 2013 was at 27.5% as against 30.3% as on June 30,2012.

    e) Net Advances grew to Rs. 6,471 Cr. as on June 30, 2013 from Rs. 5,449 Cr. as on June 30, 2012 a growth rate of 19%.

    f) Net Interest Margin for Q1 FY 2014 stands at 3.44% as against 3.18% for Q1 FY 2013.

    g) Capital Adequacy Ratio (CAR) was at 13.89% as on June 30, 2013 with Tier I at 13.05% and Tier II at 0.84% as per Basel II norms. CAR as per Basel III norms stood at 13.75%.

    h) The Bank’s branch network increased from 94 to 101 branches in 51 locations as on June 30, 2013.

    Source : Sachin Murdeshwar