July 25, 2024, 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 In comparison
Profit After Tax for Q1 FY 2024 was at INR 127 Cr., growth of 3%.
- Advances growth year-on-year was at 19% and Deposit growth year-on-year was at 20%.
- The Gross NPA as on June 30, 2024 was at 3.33%. Net NPA was at 1.18% as on June 30, 2024.
The Provision Coverage Ratio (PCR) as on 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 on 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 Mr. Praveen Kutty, Managing Director & CEO said,
“The growth momentum of both deposits and loans are in line with our expectations. As intended, 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 stabilise 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, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 |
| Total Assets | 64,516 | 63,037 | 59,804 | 57,710 | 54,974 |
| Deposits | 51,690 | 49,353 | 47,120 | 45,496 | 43,009 |
| Net Advances | 42,181 | 40,925 | 38,951 | 37,276 | 35,474 |
| Investments | 16,652 | 16,211 | 15,443 | 14,676 | 13,395 |
| Shareholders’ Equity | 5,185 | 5,071 | 4,912 | 4,784 | 4,656 |
| Gross NPA Ratio | 3.33% | 3.23% | 3.43% | 3.36% | 3.26% |
| Net NPA Ratio | 1.18% | 1.11% | 1.22% | 1.28% | 1.19% |
| Coverage Ratio | 76.00% | 77.30% | 76.42% | 75.49% | 77.07% |
| CASA Ratio | 25.41% | 26.02% | 26.13% | 25.04% | 25.97% |
| Credit Deposit Ratio | 81.60% | 82.92% | 82.66% | 81.93% | 82.48% |
DCB Bank Unaudited Results for the Quarter ended June 30, 2024
| INR Cr. | Q1 FY 2024-25 | Q4 FY 2023-24 | Q3 FY 2023-24 | Q2 FY 2023-24 | Q1 FY 2023-24 | FY 2023-24 |
| Interest Income | 1,489 | 1,445 | 1,374 | 1,306 | 1,238 | 5,362 |
| Interest Expense | (992) | (937) | (900) | (830) | (767) | (3,434) |
| Net Interest Income | 497 | 508 | 474 | 476 | 471 | 1,928 |
| Non-Interest Income | 143 | 136 | 124 | 107 | 107 | 474 |
| Total Income | 640 | 644 | 598 | 583 | 578 | 2,402 |
| Operating Expenses | (435) | (410) | (386) | (372) | (369) | (1,538) |
| Operating Profit | 205 | 234 | 212 | 211 | 209 | 864 |
| Provisions other than Tax | (28) | (24) | (41) | (40) | (38) | (142) |
| Net Profit Before Tax | 177 | 210 | 171 | 171 | 171 | 722 |
| Tax | (46) | (54) | (44) | (44) | (44) | (186) |
| Net Profit After Tax | 131 | 156 | 127 | 127 | 127 | 536 |
