Money & Banking

DCB posts Rs 8-cr profit

Our Bureau Mumbai | Updated on January 19, 2011

Development Credit Bank posted a net profit of Rs 8 crore for the quarter ended December 31, 2010, against a net loss of Rs 18 crore in the same quarter last year, aided by higher net interest and lower provisions. Net interest income increased to Rs 49 crore, from Rs 33 crore. Provisions declined considerably to Rs 13 crore (Rs 26 crore). Non-interest income was flat at Rs 26 crore. During the quarter, total deposits grew by 26 per cent to Rs 5,651 crore (Rs 4,482 crore).

Published on January 19, 2011

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