DCB Bank profit rises by 50 pc to Rs 96 cr in Q4
New Delhi, Apr 18 (UNI) Private lendor DCB bank on Thursday posted its net profit of Rs 96 crore with year-on-year growth of 50 per cent.
The Bank’s profit after tax was at Rs 96 crore in quarter-4 of the financial year 2018-19 as against Rs 64 crore in the same quarter last year, registering an increase of 50 per cent, the bank said in a statement here.
However for the financial year, the bank’s profit grew by 33 per cent to Rs 325 crore in financial year 2019 against Rs 245 crore in FY 2018.
The Bank also earned a net interest income of Rs 301 crore in the January-March quarter of FY 2018-19 as against Rs 264 crore in the same quarter last year. Its non-interest income was of Rs 99 crore in the fourth quarter of 2018-19 against Rs 85 crore in the same quarter of 2017-18.
The private lendor’s also rose at Net Advances which grew to Rs 23,568 crore as on March 31, 2019 from Rs 20,337 crore as on March 31, 2018, marking a growth rate of 16 per cent.
The Gross NPA ratio stood at 1.84 per cent as on March 31, 2019 as compared to 1.79 per cent as on March 31, 2018 while Net NPA ratio stood at 0.65 per cent as on March 31, 2019 as compared to 0.72 per cent as on March 31, 2018.
Speaking about the performance DCB Bank Managing Director and CEO Murali M Natrajan said, "Our aim is to deliver measured and balanced growth while focusing on steady improvement in Cost to Income Ratio, Return on Assets and Return on Equity. We are succeeding in our efforts to improve productivity and capital utilisation and the same is reflected in our performance.”