Mumbai, January 13, 2015: The Board of Directors of DCB Bank Ltd.(formerly - Development Credit Bank Ltd.) (BSE: 532772; NSE: DCBBANK) at its meeting in Mumbai on January 13, 2015, took on record the limited reviewed financial results of the third quarter (Q3 FY 2015).
DCB Bank Limited (Formerly Development Credit Bank Ltd.) declared Q3 FY 2015 Net Profit of Rs.43 Cr.against a Net Profit of Rs.36 Cr.in Q3 FY2014, increase of 17%. The Q3 FY 2015 Profit Before Tax was Rs.50 Cr.as against Profit Before tax of Rs.36 Cr.in Q3 FY2014, increase of 37%.
Since September 2013 the Bank has increased its branch network from 103 to 145 and the number of employees has gone up from 2,401 to 3,194. As per our estimates, the investments in branch network and number of employees increase is approximately Rs. 20 Cr. for the nine months ended December 31, 2014. These investments are expected to break even in about 18 to 24 months.
As on December 31, 2014, the Balance Sheet was at Rs. 14,807 Cr. as against Rs.11,989 Cr. as on December 31, 2013, a growth rate of 24%.
As on December 31, 2014, the Bank’s Deposits stood at Rs. 11,850 Cr. and Net Advances reached Rs. 9,491 Cr. In comparison to December 31, 2013, Deposits have grown by 24% and Net Advances by 29%.
Retail Deposits were at 82% of Total Deposits as on December 31, 2014.
CASA ratio as on December 31, 2014 was at 23.8% as against 24.8% as on December 31, 2013.
The Gross NPA stood at 1.87% and Net NPA was at 1.00%. There has been a slight decrease in both Gross and Net NPA as compared to September 30, 2014. The external environment has been challenging for the past few years. Thus far Retail and Agri & Inclusive Banking is in good shape.
Fresh slippages have reduced considerably in MSME & SME portfolio. While Corporate Loan book NPAs have been minimal, we may have one or two challenges in the coming months.
Net Interest Margin for Q3 FY 2015 stands at 3.70% as against 3.55% for Q3 FY 2014.
As informed earlier, the Bank has raised Tier I Capital of approximately Rs. 250 Cr. through an offer of equity shares under Qualified Institutional Placement (QIP) which was completed on October 10, 2014.
As on December 31, 2014, the Bank’s Capital Adequacy Ratio was at 14.44%, with Tier I core capital at 13.58% under Basel III.
Speaking on the occasion, Murali M. Natrajan, Managing Director & CEO said, "We are continuously sharpening our focus on executing our plan for profitable growth. We have to ensure that NPAs remain in control".
DCB Bank Results for the quarter ended December 31, 2014
Rs. Cr. | | Q3 FY | Q3 FY | | Inc/ | | Q2 FY | Q1 FY | FY | |
| 2014-15 | | 2013-14 | Dec% | | 2014-15 | 2014-15 | 2013-14 | |
| | | | |
Interest Income | | 357 | | | 291 | | 23% | | 335 | | 352 | 1,128 | |
Interest Expense | | (235) | | | (197) | | (19%) | | (217) | | (213) | (760) | |
Net Interest Income | | 122 | | | 94 | | 30% | | 118 | | 139 | 368 | |
Non Interest Income | | 48 | | | 32 | | 46% | | 37 | | 34 | 139 | |
Total Income | | 170 | | | 126 | | 34% | | 155 | | 173 | 507 | |
Operating Expenses | | (102) | | | (80) | | (26%) | | (95) | | (92) | (319) | |
Operating Profit/(Loss) | | 68 | | | 46 | | 48% | | 60 | | 81 | 188 | |
Provisions other than Tax | | (18) | | | (10) | | (84%) | | (14) | | (23) | (37) | |
Net Profit Before Tax | | 50 | | | 36 | | 37% | | 46 | | 58 | 151 | |
Tax | | (7) | | | 0 | | - | | (5) | | (13) | 0 | |
Net Profit After Tax | | 43 | | | 36 | | 17% | | 41 | | 45 | 151 | |
Key Balance Sheet Parameters | | | | | | | | | | | |
| | | | | | |
Rs. Cr. | December 31, | September 30, | June 30, 2014 | | March 31, | |
2014 | | | | 2014 | | | | | | 2014 | |
| | | | | | | | | |
Total Assets | 14,807 | | 13,415 | 12,884 | | | 12,923 | |
Deposits | 11,850 | | 10,900 | 10,552 | | | 10,325 | |
Net Advances | 9,491 | | 8,793 | 8,291 | | | 8,140 | |
Investments | 4,034 | | 3,340 | 3,540 | | | 3,634 | |
Shareholders’ Equity | 1,523 | | 1,235 | 1,199 | | | 1,154 | |
Gross NPA Ratio | 1.87% | | 1.90% | 1.78% | | | 1.69% | |
Net NPA Ratio | 1.00% | | 1.07% | 0.97% | | | 0.91% | |
Coverage Ratio | 77.07% | | 76.79% | 79.07% | | | 80.54% | |
CASA Ratio | 23.78% | | 25.46% | 25.38% | | | 25.00% | |
Credit Deposit Ratio | 80.10% | | 80.67% | 78.58% | | | 78.84% | |
| | | | | | | | | | | | | | |
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cityairnews
Jan 13, 2015 12:30
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