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

DCB bank offers 10.97% p.a. on fixed deposits !!!!!!!!!!!!!!!!

Don't be misled by the advertisement the bank is giving in the newspaper and its website. There is small catch * T & C apply. Now a days banks are also offering misleading advertisements to get the attention of customers. See the above advertisement bank is actually paying 9.60% p.a. for the fixed deposits of less than one crore for the period 24 months to 36 months. Then wherecome 10.97% ??. The bank is using 'effective yield'  as the tool. The effective yield works out to be 10.97% for the above period. But the bank's should not use such misleading ads for attracting customers.

The DCB Bank is offering 9.6% for deposits of less than one crore for the period 24 months to 36 months and the senior citizens will get 0.5% above this rate for the same tenure.