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DCB Bank registered a 12.8 per cent increase in its net profit during the third quarter of 2019-20 at ₹97 crore as compared to ₹86 crore in the corresponding period a year ago.
The Bank earned net interest income of ₹323 crore for the quarter ended December 31, 2019 against ₹294 crore for the same period last year.
Net Interest Margin for the third quarter was 3.71 per cent against 3.83 per cent a year ago.
Non-interest income, however, fell marginally to ₹93 crore in the December quarter from ₹94 crore during the corresponding period last year.
Gross non-performing assets stood at 2.15 per cent of gross advances as on December 31, 2019 as compared to 1.92 per cent as on December 31, 2018 and 2.09 per cent as on September 30, 2019.
Net NPAs remained at 1.03 per cent of net advances as on December 31, 2019 as compared to 0.71 per cent as on December 31, 2018 and 0.96 per cent as on September 30, 2019.
“During the quarter, the bank has availed Long Term Refinance from SIDBI and NHB of ₹725 crore,” DCB Bank said in a statement on Saturday.
As on December 31, 2019, it sold to an asset reconstruction company, certain non-performing loans amounting to net book value of ₹29.57 crore for consideration of ₹38.47 crore. As per the RBI guidelines, the bank has netted off ₹8.90 crore, an excess over net book value against book value of Security Receipts, it further said.
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