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Mangalore, Nov. 3 Development Credit Bank (DCB) posted a decline of 93.09 per cent in net profit in the second quarter of 2008-09.

The bank recorded a net profit of Rs 1 crore during the period, as against Rs 14.49 crore in the corresponding period of the previous fiscal.

A bank release, on Monday, attributed the decrease in net profit to the reduction in non-interest income.

During the quarter under review, non-interest income stood at Rs 28.7 crore (Rs 43.1 crore), registering a decrease of 33 per cent. Net interest income stood at Rs 57.87 crore (Rs 46.44 crore), recording a growth of 19.75 per cent.

Advances increased to Rs 4,261 crore (Rs 3,194 crore) and deposits to Rs 6,006 crore (Rs 4,917 crore).

The CAR during the period stood at 12.5 per cent (15.4 per cent), and the net NPA at 1.3 per cent (1.2 per cent).

On Monday, the bank’s scrip closed at Rs 26 on the BSE against the previous close of Rs 24.50.

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