Despite increase in bad loans, DCB Bank reported a 48 per cent rise in its full year net profit at Rs 151 crore in the financial year 2013-14 as against a profit of Rs 102 crore a year ago. The profit was helped by higher interest income, net interest margin (NIM) and loan growth.

Net interest income (difference between interest earned and expended) was at Rs 368 crore, up 30 per cent from Rs 284 crore in FY13. Non interest income grew 19 per cent to Rs 139 crore (Rs 117 crore).

NIM was up at 3.56 per cent for FY14 as against 3.34 per cent in the previous year.

As on March 31, 2014, total net advances increased 24 per cent year-on-year to Rs 8,140 crore from Rs 6,586 crore as on March 31, 2013. Total deposits increased to Rs 10,325 crore as on March 31, 2014 (Rs 8,364 crore as on March 31, 2013).

Net non-performing assets (NPA) ratio worsened to 0.91 per cent as on March end, 2014 from 0.75 per cent in March last year. However, gross NPA improved to 1.69 per cent from 3.18 per cent.

Q4 results

The bank’s net profit for the fourth quarter grew at a meager Rs 39 crore as compared with Rs 34 crore in Q4FY 2013. Sequentially, the profit was flat.

During the quarter, NII increased 22 per cent to Rs 100 crore from Rs 82 crore in the same quarter a year ago. Non-interest income was flat at Rs 33 crore.

In the fourth quarter, NIM increased to 3.59 per cent from 3.52 per cent in Q4 FY13.

beena.parmar@thehindu.co.in

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