Bengaluru: The Board of Directors of DCB Bank Ltd. (BSE: 532772; NSE: DCB) at its meeting in Mumbai on October 24, 2024, approved the unaudited financial results for the quarter ended September 30, 2024 (Q2 FY 2025) along with limited review report by statutory auditors ‘Varma & Varma, Chartered Accountants’ and ‘B S R & Co. LLP, Chartered Accountants’.
Highlights:
1) The Bank’s Profit After Tax (PAT) for Q2 FY 2025 was at INR 155 Cr. In comparison
Profit After Tax for Q2 FY 2024 was at INR 127 Cr., growth of 23%.
2) Advances growth year-on-year was at 19% and Deposit growth year-on-year was at 20%.
3) The Gross NPA as on September 30, 2024 was at 3.29%. Net NPA was at 1.17% as on September 30, 2024.
The Provision Coverage Ratio (PCR) as on September 30, 2024 was at 75.62% and PCR without considering Gold Loans NPAs was at 76.41%.
4) Capital Adequacy continues to be strong and as on September 30, 2024, the Capital Adequacy Ratio was at 15.55% (with Tier I at 13.65% and Tier II at 1.90% as per Basel III norms).
Speaking on the Q2 FY 2025 results Mr. Praveen Kutty, Managing Director & CEO said,
“Our growth trajectory continues to be robust both in deposits and advances. Greater focus on analytics and engagement to give us benefits on the fee line. Recoveries and upgrades continue to be encouraging. We are working on improving the productivity and looking ahead we expect steady improvement in profitability.”
Key Balance Sheet Parameters
| INR Cr. | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 |
| Total Assets | 68,955 | 64,516 | 63,037 | 59,804 | 57,710 |
| Deposits | 54,532 | 51,690 | 49,353 | 47,120 | 45,496 |
| Net Advances | 44,465 | 42,181 | 40,925 | 38,951 | 37,276 |
| Investments | 18,205 | 16,652 | 16,211 | 15,443 | 14,676 |
| Shareholders’ Equity | 5,351 | 5,185 | 5,071 | 4,912 | 4,784 |
| Gross NPA Ratio | 3.29% | 3.33% | 3.23% | 3.43% | 3.36% |
| Net NPA Ratio | 1.17% | 1.18% | 1.11% | 1.22% | 1.28% |
| Coverage Ratio | 75.62% | 76.00% | 77.30% | 76.42% | 75.49% |
| CASA Ratio | 25.61% | 25.41% | 26.02% | 26.13% | 25.04% |
| Credit Deposit Ratio | 81.54% | 81.60% | 82.92% | 82.66% | 81.93% |
DCB Bank Unaudited Results for the Quarter ended September 30, 2024
| INR Cr. | Q2 FY 2024-25 | Q1 FY 2024-25 | Q4 FY 2023-24 | Q3 FY 2023-24 | Q2 FY 2023-24 | FY 2023-24 |
| Interest Income | 1,568 | 1,489 | 1,445 | 1,374 | 1,306 | 5,362 |
| Interest Expense | (1,059) | (992) | (937) | (900) | (830) | (3,434) |
| Net Interest Income | 509 | 497 | 508 | 474 | 476 | 1,928 |
| Non-Interest Income | 205 | 143 | 136 | 124 | 107 | 474 |
| Total Income | 714 | 640 | 644 | 598 | 583 | 2,402 |
| Operating Expenses | (459) | (435) | (410) | (386) | (372) | (1,538) |
| Operating Profit | 255 | 205 | 234 | 212 | 211 | 864 |
| Provisions other than Tax | (46) | (28) | (24) | (41) | (40) | (142) |
| Net Profit Before Tax | 209 | 177 | 210 | 171 | 171 | 722 |
| Tax | (54) | (46) | (54) | (44) | (44) | (186) |
| Net Profit After Tax | 155 | 131 | 156 | 127 | 127 | 536 |
