DCB Bank Ltd reported a net profit of ₹131.4 crore for the first quarter ending June 30, 2024, marking a 3.6% increase from ₹126.9 crore in the same period last year.
The bank’s net interest income (NII) rose by 5.5% to ₹496.6 crore, up from ₹470.7 crore in the previous year. NII is the difference between the interest income earned from lending activities and the interest paid to depositors.
Gross non-performing assets (NPA) stood at 3.33% for the June quarter, slightly up from 3.23% in the March quarter. Net NPA also increased to 1.18% from 1.11% in the previous quarter.
The bank saw a 19% year-on-year growth in advances and a 20% increase in deposits. The provision coverage ratio (PCR) was 76%, with PCR excluding gold loan NPAs at 77.19%.
DCB Bank’s capital adequacy ratio (CAR) remained strong at 15.95%, with tier I at 14% and tier II at 1.95%, as per Basel III norms.
The financial results were released after market hours. Shares of DCB Bank Ltd closed at ₹133.10 on the BSE, up ₹2.15 or 1.64%.
