DCB Bank Announces First Quarter FY-2019 Results

By 121 News

Chandigarh 20th July:- The Board of Directors of DCB Bank Ltd. (BSE: 532772; NSE: DCB) at its meeting in Mumbai on July 14, 2018, took on record the limited reviewed financial results of the first quarter (Q1 FY 2019).

The Bank's Profit After Tax was at INR 70 Cr. in Q1 FY 2019 as against INR 65 Cr. in Q1 FY 2018. Profit Before Tax was at INR 108 Cr. in Q1FY 2019 a stable growth as against INR 101 Cr. in Q1 FY 2018.Operating Profit of INR 141 Cr. over INR 136 Cr. for the same period as compared to last year. The Bank earned Net Interest Income of INR 273 Cr. as against INR 233 Cr. for the same period as compared to last year. Non-Interest Income of INR 83 Cr. against INR 86 Cr. for the same period as compared to last year. Q1 FY 2019 included onetime Treasury gain of Rs. 10 Cr. as against Rs. 21 Cr. in Q1 FY 2018. Net Advances grew to INR 21,243 Cr. as on June 30, 2018 from INR 16,266 Cr. as on June 30, 2017 a growth rate of 31%. As on June 30, 2018, the Bank grew Deposits by 31% to INR 25,032 Cr. Retail CASA & Retail Term Deposits continued to provide a stable resource base to the Bank. Retail Deposits (including Agri and Inclusive Banking) were 75% of Total Deposits. CASA ratio stood at 24.63% as on June 30, 2018 as against 26.85% as on June 30, 2017, with Savings Accounts year on year growth rate of 32%. Net Interest Margin for Q1 FY 2019 stands at 3.90% as against 4.23% for Q1 FY 2018 and 4.09% for Q4 FY2018. Gross NPA ratio stood at 1.86% as on June 30, 2018 as compared to 1.74% as on June 30, 2017. Net NPA ratio remained at 0.72% as on June 30, 2018 as compared to 0.92% as on June 30, 2017. Capital Adequacy Ratio (CAR) was at 15.55% as on June 30, 2018 with Tier I at 12.02% and Tier II at 3.53% as per Basel III norms.

As of June 30, 2018 the Net Restructured Standard Advances was approximately INR 31 Cr comprising of 6 accounts.

The Bank's branch network increased to 323 branches as on June 30, 2018.

Speaking about the performance  Murali M. Natrajan, Managing Director & CEO said that we have been able to achieve the envisaged growth from the branch expansion programme. Margins are under pressure especially in Mortgage and Corporate Loan book. We continue to be watchful of NPAs.