DCB Bank’s PAT Grows By 11%

The Provision Coverage Ratio (PCR) as on December 31, 2023 was at 76.42% and PCR without considering gold loans NPAs was at 77.27%

Murali M. Natrajan, Managing Director & CEO

FinTech BizNews Service   

Mumbai, January 25, 2024: The Board of Directors of DCB Bank Ltd. (BSE: 532772; NSE: DCB) at its meeting in Mumbai on January 24, 2024, approved the unaudited financial results for the quarter and nine months ended December 31, 2023 (Q3 FY 2024) along with limited review report by statutory auditors ‘Sundaram & Srinivasan, Chartered Accountants’ and ‘B S R & Co. LLP, Chartered Accountants’. 

Highlights:

• 1) The Bank’s Profit After Tax (PAT) for Q3 FY 2024 was at INR 127 Cr. In comparison Profit After Tax for Q3 FY 2023 was at INR 114 Cr., registering a growth of 11%. 2) Advances growth year-on-year was at 18% and Deposit growth year-on-year was at 19%. 3) The Gross NPA ratio as on December 31, 2023 was at 3.43%. Net NPA ratio was at 1.22% as on December 31, 2023. Both Gross NPA ratio and Net NPA ratio declined as compared to last year. The Provision Coverage Ratio (PCR) as on December 31, 2023 was at 76.42% and PCR without considering gold loans NPAs was at 77.27%. 4) Capital Adequacy continues to be strong and as on December 31, 2023, the Capital Adequacy Ratio was at 15.72% (with Tier I at 13.69% and Tier II at 2.03% as per Basel III norms). 

Speaking on the Q3 FY 2024 results Mr. Murali M. Natrajan, Managing Director & CEO said, “We continue to steadily add frontline capacity to support the growth momentum. Our focus remains to grow CASA and Deposits, higher than the growth in Advances. We aim to double the Balance Sheet in 3 to 4 years”