1. DCB Bank reports Rs 47 cr profit in April-June quater

DCB Bank reports Rs 47 cr profit in April-June quater

Private lender DCB Bank today reported a marginal rise in net profit at Rs 47.03 crore for first quarter ended June 30, 2016.

By: | New Delhi | Published: July 14, 2016 8:14 PM
Private lender DCB Bank today reduced both base rate or the minimum lending rate and the marginal cost of funds-based lending rate (MCLR), a move which will lower EMIs for its borrowers. DCB stock closed 5.11 per cent up at Rs 104.90 on BSE. (Reuters)

Private lender DCB Bank today reported a marginal rise in net profit at Rs 47.03 crore for first quarter ended June 30, 2016.

The bank’s net profit was at Rs 46.87 crore in the corresponding period last fiscal.

Total income has increased to Rs 530.75 crore during the quarter from Rs 467.44 crore in the year ago period, it said in a regulatory filing.

Also, the bank improved on its asset quality with the gross non-performing assets (NPAs) or bad loans falling to 1.72 per cent of gross advances as of June 2016 from 1.96 per cent year-ago period.

Net NPAs, too narrowed down to 0.87 per cent from 1.22 per cent a year earlier.

However, provisions towards bad loans and contingencies were kept higher at Rs 20.53 crore for April-June quarter of current fiscal as against Rs 18.03 crore in same period last fiscal.

DCB stock closed 5.11 per cent up at Rs 104.90 on BSE.

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