Total income increased 5.92% to Rs 644 crore in Q4 FY24 as against Rs 608 crore posted in corresponding quarter last year. operating profit fell 4.1% to Rs 234 crore in Q4 FY24 as compared with Rs 244 crore in Q4 FY23. Interest income jumped 22.56% to Rs 1,445 crore in Q4 FY24 as compared with Rs 1,179 crore in Q4 FY23. Net interest margin (NIM) was at 3.62% in Q4 FY24 as against 3.48% in Q3 FY24 and 4.18% in Q4 FY23.
Advances grew 19.04% year on year to Rs 40,925 crore in Q4 FY24. Deposits jumped 19.68% year on year to Rs 49,353 crore in Q4 FY24.
Slippages stood at 3.35% as on 31 March 2024 as compared with 3.28% as on 31 March 2023. CASA ratio was at 26.02% in Q4 FY24 as against 26.42% in Q4 FY23.
Gross non performing assets (NPA) slipped Rs 1,353.47 crore as on 31 March 2024 as compared with Rs 1,122.84 crore as on 31 March 2023.
Gross NPA rose 3.23% in Q4 FY24 as compared with 3.19% in Q4 FY23. Net NPA was at 1.11% in Q4 FY24 as compared with 1.04% same quarter previous year.
The provision coverage ratio (PCR) as on 31 March 2023 was at 79.34% and PCR without considering gold loans NPAs was at 79.82%.
Capital adequacy continued to be strong and as on 31 March 2024, the capital adequacy ratio was at 16.59% (with Tier I at 14.3% and Tier II at 2.06% as per Basel III norms).
Praveen Kutty, designated managing director, said, ?We continue our steady scale up journey, with growth in chosen products as per strategy namely, mortgages, agri & inclusive banking, construction finance and gold. Our deposit franchise has registered strong growth, while continuing to maintain its granular profile upgrades and recoveries continues to be good resulting in lower credit cost. We intend to continue to improve growth and profitability.?
DCB Bank is engaged in providing banking and financial services and governed by the Banking Regulation Act, 1949. As on 31 March 2024, the bank?s headcount stood at 11,325, the bank has 442 branches along with 418 ATMs.
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