DCB Bank Reveals Impressive First Quarter FY 2025 Performance

News Desk — Wed, 24 Jul 2024 14:42:26 +0000

MUMBAI: The Board of Directors of DCB Bank Ltd. (BSE: 532772; NSE: DCB) at its meeting in Mumbai on July 24, 2024, approved the unaudited financial results for the quarter ended June 30, 2024 (Q1 FY 2025) along with limited review report by statutory auditors ‘Varma & Varma, Chartered Accountants’ and ‘B S R & Co. LLP, Chartered Accountants’.

Highlights:

The Bank’s Profit After Tax (PAT) for Q1 FY 2025 was at INR 131 Cr. In comparison

Profit After Tax for Q1 FY 2024 was at INR 127 Cr., a growth of 3%.

Advances growth year-on-year was at 19% and Deposit growth year-on-year was at 20%.

The Gross NPA as of June 30, 2024, was at 3.33%. Net NPA was at 1.18% as of June 30, 2024.

The Provision Coverage Ratio (PCR) as of June 30, 2024 was at 76.00% and PCR without considering Gold Loans NPAs was at 77.19%.

Capital Adequacy continues to be strong and as of June 30, 2024, the Capital Adequacy Ratio was at 15.95% (with Tier I at 14.00% and Tier II at 1.95% as per Basel III norms).

Speaking on the Q1 FY 2025 results Praveen Kutty, Managing Director & CEO said, “The growth momentum of both deposits and loans are in line with our expectations. As intended, the growth in deposits is higher than the growth in loans. The credit costs continue to be low and fee income is steadily increasing. We expect the cost of funds to stabilize over the next few months, thereby improving the NIM. Going forward, we expect to see a steady improvement in productivity and profitability.”

Key Balance Sheet Parameters

INR Cr.	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023
Total Assets	64,516	63,037	59,804	57,710	54,974
Deposits	51,690	49,353	47,120	45,496	43,009
Net Advances	42,181	40,925	38,951	37,276	35,474
Investments	16,652	16,211	15,443	14,676	13,395
Shareholders’ Equity	5,185	5,071	4,912	4,784	4,656
Gross NPA Ratio	3.33%	3.23%	3.43%	3.36%	3.26%
Net NPA Ratio	1.18%	1.11%	1.22%	1.28%	1.19%
Coverage Ratio	76.00%	77.30%	76.42%	75.49%	77.07%
CASA Ratio	25.41%	26.02%	26.13%	25.04%	25.97%
Credit Deposit Ratio	81.60%	82.92%	82.66%	81.93%	82.48%

DCB Bank Unaudited Results for the Quarter ended June 30, 2024

INR Cr.	Q1 FY 2024-25	Q4 FY 2023-24	Q3 FY 2023-24	Q2 FY 2023-24	Q1 FY 2023-24	FY 2023-24
Interest Income	1,489	1,445	1,374	1,306	1,238	5,362
Interest Expense	(992)	(937)	(900)	(830)	(767)	(3,434)
Net Interest Income	497	508	474	476	471	1,928
Non-Interest Income	143	136	124	107	107	474
Total Income	640	644	598	583	578	2,402
Operating Expenses	(435)	(410)	(386)	(372)	(369)	(1,538)
Operating Profit	205	234	212	211	209	864
Provisions other than Tax	(28)	(24)	(41)	(40)	(38)	(142)
Net Profit Before Tax	177	210	171	171	171	722
Tax	(46)	(54)	(44)	(44)	(44)	(186)
Net Profit After Tax	131	156	127	127	127	536

Safe Harbour: Some of the statements contained herein are forward-looking statements. These statements are based on information currently available to us. Some risks and uncertainties could cause actual outcomes to differ materially from these forward-looking statements. We assume no responsibility to update these statements as circumstances change.

The post DCB Bank Reveals Impressive First Quarter FY 2025 Performance appeared first on NRI News.

FY 2025 Archives - NRI News

DCB Bank Reveals Impressive First Quarter FY 2025 Performance