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Robust growth in net interest and other income helped DCB Bank post a 25 per cent year-on-year increase in the third quarter net profit at Rs 51 crore as against Rs 41 crore in the year ago period.
The private sector bank’s net interest income (the difference between earned and interest expended) in the reporting quarter ended December 31, 2016 rose 31 per cent at Rs 209 crore (Rs 160 crore in the year ago quarter).
Other income, comprising profit on sale of investments, commission/ exchange, and profit on exchange transactions, was up 36 per cent at Rs 64 crore (Rs 47 crore).
Murali M Natrajan, MD & CEO, said “…Advances growth was lower than plan. However, we are hopeful of steady improvement in loan growth in the coming quarters. We have to continue to be vigilant in managing portfolio quality.’
Net advances grew 24 per cent year-on-year (y-o-y) to Rs 14,584 crore. Deposits jumped 34 per cent y-o-y to Rs 18,840 crore.
Net interest margin in the reporting quarter was almost flat at 3.95 per cent.
Gross non-performing assets to total loans improved to 1.55 per cent from 1.98 per cent in the year ago quarter.
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