Private sector lender DCB Bank, on Thursday, announced a 50 per cent increase in net profit to ₹96.33 crore for the fourth quarter of 2018-19, with a robust growth in core income and stable asset quality.

The bank’s net profit amounted to ₹64.21 crore for the fourth quarter of 2017-18. Net interest income of the bank rose 14 per cent to ₹301 crore for the January to March 2019 quarter, against ₹264 crore a year ago.

For the full fiscal 2018-19, DCB Bank reported a 32.62 per cent increase in net profit to ₹325.37 crore, against ₹245.34 crore in 2017-18.

The bank’s gross non-performing assets rose marginally to ₹439.48 crore for the fourth quarter of the fiscal from ₹369.03 crore a year ago. Its net NPAs also rose to ₹153.77 crore by March 31, 2019, from ₹146.72 crore in the same period a year ago. In percentage terms, gross NPAs rose to 1.84 per cent of gross advances by March 31, 2019, while net NPAs were slightly lower at 0.65 per cent of net advances.

Also read:DCB Q3 profit surges 51% to Rs 86 cr

Murali Natrajan, Managing Director and CEO of DCB Bank, said: “Our aim is to deliver measured and balanced growth while focussing on steady improvement in cost to income ratio, return on assets, and return on equity. We are succeeding in our efforts to improve productivity and capital utilisation and the same is reflected in our performance.”

The board of directors of the bank also recommended a dividend of ₹1 per equity share of ₹10 each, out of the net profit of the bank for 2018-19.

The bank’s scrip gained a marginal 0.2 per cent and closed at ₹202.45 apiece on the BSE.

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