Development Credit Bank (DCB) reported a 72 per cent jump in net profit in the October-December quarter at Rs 27 crore, against Rs 17 crore in the year-ago period.

Net interest income (difference between interest earned and expended) grew by 22 per cent at Rs 72 crore from Rs 59 crore in Q3 FY12.

Net Interest Margin (NIM) stood at 3.38 per cent (3.37 per cent in Q3 FY12).

As on December 31, 2012, while the bank’s deposits grew by 22 per cent at Rs 7,558 crore, total advances rose 39 per cent at Rs 5,964 crore. Retail deposits were at 83 per cent of total deposits.

Net non-performing assets (NPAs) stood at 0.73 per cent from 1.03 per cent in the year-ago period.

Shares of DCB ended at Rs 50.20 per share, down 1.28 per cent over the previous close on the BSE.

Beena.parmar@thehindu.co.in

(This article was published on January 15, 2013)
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