Monday, January 16, 2017

DCB Bank announces Third Quarter FY 2017 Results

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January 14, 2017, Mumbai: The Board of Directors of DCB Bank Ltd. (BSE: 532772; NSE: DCB) at its meeting in Mumbai on January 14, 2017, took on record the limited reviewed financial results of the third quarter (Q3 FY 2017).

Q3 FY 2017 Highlights:

a)    The Bank’s Profit After Tax was at INR 51 Cr. in Q3 FY 2017 as against INR 41 Cr. in Q3 FY 2016, an increase of 25%.

b)    Profit Before Tax was at INR 79 Cr. in Q3FY 2017, an increase of 24% as against INR 63 Cr. in Q3 FY 2016.

c)    Operating Profit of INR 109 Cr. over INR 84 Cr. as compared to last year, an increase by 30%.

d)    The Bank earned Net Interest Income of INR 209 Cr. as against INR 160 Cr. for the same period as compared to last year, an increase of 31%.

e)    Non-Interest Income of INR 64 Cr. against INR 47 Cr. for the same period as compared to last year, an increase of 36%.

f)     Net Advances grew to INR 14,584 Cr. as on December 31, 2016 from INR 11,736 Cr. as on December 31, 2015 a growth rate of 24%.

g)    Net Advances (excluding Corporate Banking) grew to INR 12,218 Cr. as on December 31, 2016 from INR 9,727 Cr. as on December 31, 2015 a growth rate of 26%.

h)    As on December 31, 2016, the Bank grew Deposits by 34% to INR 18,840 Cr. Retail CASA & Retail Term Deposits continued to provide a stable resource base to the Bank. Retail Deposits (including Agri and Inclusive Banking) were 79.41% of Total Deposits.

i)      CASA ratio increased to 25.85% as on December 31, 2016 as against 22.85% as on December 31, 2015. As against 21.91% as on September 30, 2016 a quarter on quarter growth rate of approx. 4%. Savings Accounts year on year growth rate of 58%.

j)      Net Interest Margin for Q3 FY 2017 stands at 3.95% as against 3.96% for Q3 FY 2016.

k)    Gross NPA ratio decreased to 1.55% as on December 31, 2016 from 1.98% as on December 31, 2015.

l)      Net NPA ratio decreased to 0.74% as on December 31, 2016 from 1.12% as on December 31, 2015.

m)  Capital Adequacy Ratio (CAR) was at 13.33% as on December 31, 2016 with Tier I at 11.39% and Tier II at 1.94% as per Basel III norms. This does not include year to date Profit After Tax.

n)    As of December 31, 2016 the Net Restructured Standard Advances was approximately INR 30 Cr (0.21% of Net Advances) comprising of 2 accounts.

o)    The Bank’s branch network increased to 248 branches and 496 ATMs as on December 31, 2016.

Speaking about the Q3 FY 17 performance Mr. Murali M. Natrajan, Managing Director & CEO said, “It was an extraordinary and busy quarter, for example we faced unprecedented branch walk-ins, huge spike in the number of customer queries at the call center and cash handling logistics. Team DCB Bank admirably rose to the occasion and tirelessly served each and every customer. Also in an otherwise hectic quarter, we kept moving towards executing our branch expansion strategy announced in October, 2015 and added 20 new branches. Advances growth was lower than plan, however, we are hopeful of steady improvement in loan growth in the coming quarters. We have to continue to be vigilant in managing portfolio quality”.

DCB Bank Results for the quarter ended December 31, 2016
Rs. Cr.
Q3 FY
Q3 FY
Inc / Dec
Q2 FY
Q1 FY

2016-17

2015-16
%
2016-17
2016-17




Interest Income
550

429
28%
506
471

Interest Expense
(341)

(269)
(27%)
(316)
(294)

Net Interest Income
209

160
31%
190
177









Non Interest Income
64

47
36%
62
60

Total Income
273

207
32%
252
237

Operating Expenses
(164)

(123)
33%
(151)
(144)

Operating Profit
109

84
30%
101
93









Provisions other than Tax
(31)

(21)
46%
(27)
(21)

Net Profit Before Tax
78

63
24%
74
72









Tax
(27)

(22)
24%
(26)
(25)









Net Profit After Tax
51

41
25%
48
47









Key Balance Sheet Parameters
Rs. Cr.
Dec 31,
Dec 31,
Sep 30,
Jun 30,
Mar 31,

2016

2015
2016
2016
2016




Total Assets
23,285

17,622
21,948
19,600
19,119

Deposits
18,840

14,083
17,685
15,680
14,926

Net Advances
14,584

11,736
14,436
13,337
12,921

Investments
6,065

4,030
5,463
4,381
4,333

Shareholders’ Equity
2,151

1,721
1,889
1,840
1,792

Gross NPA Ratio
1.55%

1.98%
1.75%
1.72%
1.51%

Net NPA Ratio
0.74%

1.12%
0.84%
0.87%
0.75%

Coverage Ratio
75.64%

72.76%
75.40%
75.25%
77.55%

CASA Ratio
25.85%

22.85%
21.91%
23.08%
23.38%

Credit Deposit Ratio
77.41%

83.33%
81.63%
85.06%
86.57%









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