DCB Bank profit rises 24% to Rs 91 crore in Sept qtr

Private sector DCB Bank on Saturday posted a 24.4 per cent rise in net profit at Rs 91.41 crore for the quarter ended September 30, 2019. Its net profit stood at Rs 73.44 crore in the same period a year ago, DCB Bank said in a filing to the BSE.

Total income in the July-September period increased to Rs 980.59 crore, over Rs 809.15 crore a year ago. DCB Bank Managing Director and CEO Murali M Natrajan said, "Our deposit profile shows steady growth in small ticket retail segment. The bank's NIM (net interest margin) is stable. The current level of economic activity poses a challenge, both for growth opportunities as well as NPA (non-performing asset)."

"However, given our secured granular loan portfolio, the recovery and upgrade pipeline is good which helps control the overall NPAs," he added. DCB Bank's gross NPA ratio stood at 2.09 per cent as on September 30, 2019 as compared to 1.84 per cent a year earlier.

The bank was operating 334 branches as on September 30, 2019.

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