MUMBAI, 31 OCTOBER, 2023 (GPN): Private sector lender DCB Bank has announced Q2FY24 results delivering robust performance.

Performance highlights are as under:

Profit after Tax ( Net Profit) for Q2 FY 2024 is INR 126.79 Cr growth of 13% YOY.

Balance Sheet size at INR 57,710 Cr which represents a growth of 23% on YOY basis.

The Total Business grew 21% YOY at INR 82,772 Cr.

Net Interest Income (NII) Grew 16% at INR 476 Cr.

·         Advances growth year-on-year was at 19% and Deposit growth year-on-year was at 23%.

·         The Gross NPA as on September 30, 2023 was at 3.36% and 1.28% respectively. Both Gross NPA and Net NPA declined in comparison to last year.

The Provision Coverage Ratio (PCR) as on September 30, 2023 was at 75.49% and PCR without considering Gold Loans NPAs was at 76.63%

·         Capital Adequacy continues to be strong and as on September 30, 2023, the Capital Adequacy Ratio was at 16.55% (with Tier I at 14.28% and Tier II at 2.27% as per Basel III norms).

Speaking on the Q2 FY 2024 results Mr. Murali M. Natrajan, Managing Director & CEO said, “The Bank’s growth trajectory is expected to improve further in the coming months. The market conditions have impacted Cost of Deposit/ Funds and CASA balances, which is expected to stabilize in two quarters or so”.