Development Credit Bank (DCB) has reported a 66 per cent jump in net profit at Rs 22.1 crore compared with Rs 13.3 crore in the year ago period.
Lower provisions in the reporting quarter (Rs 4 crore against Rs 8 crore in the year-ago period) boosted the profitability of the private sector bank.
Net advances grew 31 per cent to Rs 5,671 crore as on September 30, 2012 from Rs 4,315 crore as on September 30, 2011.
As on September 30, 2012, the bank’s deposits grew 14 per cent to Rs 7,137 crore (about Rs 6,250 crore).