DCB Bank Q3 Result

Private sector lender DCB Bank reported a net profit of Rs 36 Cr in the October-December quarter of FY14, up 35% as compared with Rs 27 Cr in the year-ago quarter. Net interest income (difference between interest earned and expended) rose 31% to Rs 94 Cr (from Rs 72 Cr in Q3 FY13). Non-interest income was up 14% at Rs 33 Cr. The net non-performing assets (NPAs) increased to 0.77% (from 0.73%), while gross NPAs improved to 2.77% (from3.80%). As on December 31, 2013, the bank’s total advances increased by 23% to Rs 7,361 Cr, while total deposits grew 27% to Rs 9,592 Cr. Retail deposits constitute 77% of total deposits. During the quarter net interest margin increased to 3.55% as against 3.38% in Q3 FY13