DCB Bank Ltd. has announced its unaudited financial results for the first quarter of FY 2025, ending June 30, 2024. The Board of Directors approved the results at a meeting in Mumbai, along with the limited review report by statutory auditors Varma & Varma, Chartered Accountants, and B S R & Co. LLP, Chartered Accountants.
Key Highlights
- Profit After Tax (PAT): DCB Bank reported a PAT of INR 131 crore for Q1 FY 2025, marking a 3% increase from INR 127 crore in Q1 FY 2024.
- Advances Growth: Year-on-year advances grew by 19%, while deposit growth saw a 20% increase.
- NPA Ratios: The Gross NPA as of June 30, 2024, stood at 3.33%, with Net NPA at 1.18%. The Provision Coverage Ratio (PCR) was at 76.00%, rising to 77.19% when excluding Gold Loan NPAs.
- Capital Adequacy: The Capital Adequacy Ratio (CAR) was robust at 15.95%, with Tier I at 14.00% and Tier II at 1.95%, in compliance with Basel III norms.
Commenting on the results, Mr. Praveen Kutty, Managing Director & CEO, said, “Our growth in both deposits and loans aligns with expectations, with deposits growing faster than loans. Credit costs remain low, and fee income is rising steadily. We anticipate stabilising fund costs in the coming months, which should enhance our Net Interest Margin (NIM). We expect ongoing improvements in productivity and profitability.”
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