DCB Bank Reveals Impressive First Quarter FY 2025 Performance

DCB Bank

MUMBAI: The Board of Directors of DCB Bank Ltd. (BSE: 532772; NSE: DCB) at its meeting in Mumbai on July 24, 2024, approved the unaudited financial results for the quarter ended June 30, 2024 (Q1 FY 2025) along with limited review report by statutory auditors ‘Varma & Varma, Chartered Accountants’ and ‘B S R & Co. LLP, Chartered Accountants’.

Highlights:

The Bank’s Profit After Tax (PAT) for Q1 FY 2025 was at INR 131 Cr. In comparison

Profit After Tax for Q1 FY 2024 was at INR 127 Cr., a growth of 3%.

Advances growth year-on-year was at 19% and Deposit growth year-on-year was at 20%.

The Gross NPA as of June 30, 2024, was at 3.33%. Net NPA was at 1.18% as of June 30, 2024.

The Provision Coverage Ratio (PCR) as of June 30, 2024 was at 76.00% and PCR without considering Gold Loans NPAs was at 77.19%.

Capital Adequacy continues to be strong and as of June 30, 2024, the Capital Adequacy Ratio was at 15.95% (with Tier I at 14.00% and Tier II at 1.95% as per Basel III norms).

Speaking on the Q1 FY 2025 results Praveen Kutty, Managing Director & CEO said, “The growth momentum of both deposits and loans are in line with our expectations. As intended, the growth in deposits is higher than the growth in loans. The credit costs continue to be low and fee income is steadily increasing. We expect the cost of funds to stabilize over the next few months, thereby improving the NIM. Going forward, we expect to see a steady improvement in productivity and profitability.”

Key Balance Sheet Parameters

INR Cr.Jun 30, 2024Mar 31, 2024Dec 31, 2023Sep 30, 2023Jun 30, 2023Total Assets64,51663,03759,80457,71054,974Deposits51,69049,35347,12045,49643,009Net Advances42,18140,92538,95137,27635,474Investments16,65216,21115,44314,67613,395Shareholders’ Equity5,1855,0714,9124,7844,656Gross NPA Ratio3.33%3.23%3.43%3.36%3.26%Net NPA Ratio1.18%1.11%1.22%1.28%1.19%Coverage Ratio76.00%77.30%76.42%75.49%77.07%CASA Ratio25.41%26.02%26.13%25.04%25.97%Credit Deposit Ratio81.60%82.92%82.66%81.93%82.48%

DCB Bank Unaudited Results for the Quarter ended June 30, 2024

INR Cr.Q1 FY 2024-25Q4 FY 2023-24Q3 FY 2023-24Q2 FY 2023-24Q1 FY 2023-24FY 2023-24Interest Income1,4891,4451,3741,3061,2385,362Interest Expense(992)(937)(900)(830)(767)(3,434)Net Interest Income4975084744764711,928Non-Interest Income143136124107107474Total Income6406445985835782,402Operating Expenses(435)(410)(386)(372)(369)(1,538)Operating Profit205234212211209864Provisions other than Tax(28)(24)(41)(40)(38)(142)Net Profit Before Tax177210171171171722Tax(46)(54)(44)(44)(44)(186)Net Profit After Tax131156127127127536

Safe Harbour: Some of the statements contained herein are forward-looking statements. These statements are based on information currently available to us. Some risks and uncertainties could cause actual outcomes to differ materially from these forward-looking statements. We assume no responsibility to update these statements as circumstances change.

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