MUMBAI:
The Board of Directors of DCB Bank Ltd. (BSE: 532772; NSE: DCB) at its meeting in Mumbai on January 25, 2020, took on record the limited reviewed financial results of the third quarter (Q3 FY 2020).
Q3 FY 2020 Highlights:
a) The Bank acquired Deposits and Advances of approximately INR 638 Cr. and INR 320 Cr. respectively of certain customers of two branches of Abu Dhabi Commercial Bank (ADCB) in India. Further, in January 2020 the Bank acquired Deposits of approximately INR 216 Cr. in the second and final phase.
b) The Bank’s Profit After Tax was at INR 97 Cr. in Q3 FY 2020 as against INR 86 Cr. in Q3 FY 2019.
c) Profit Before Tax was at INR 131 Cr. in Q3 FY 2020 as against INR 134 Cr. in Q3 FY 2019.
d) Operating Profit of INR 190 Cr. over INR 174 Cr. for the same period as compared to last year.
e) The Bank earned Net Interest Income of INR 323 Cr. as against INR 294 Cr. for the same period as compared to last year.
f) Non-Interest Income of INR 93 Cr. against INR 94 Cr. for the same period as compared to last year.
g) As compared to Q3 FY 2019, Cost Income Ratio has improved from 55.22% to 54.36%.
h) Return on Equity (Annualized) was at 12.67% in Q3 FY 2020 as compared to 12.64% in Q3 FY 2019.
i) As on December 31, 2019, the Bank grew Deposits by 8% to INR 29,735 Cr. Customer Term Deposits grew by 21% and overall Customer Deposits grew by 16%.
j) During the quarter, Bank has availed Long Term Refinance from SIDBI and NHB of INR 725 Cr.
k) Total Deposit from Top 20 depositors as on December 31, 2019 further reduced to 8.24% as compared to 12.01% as at March 31, 2019 and 13.16% as at December 31, 2018.
l) Net Advances (excluding Corporate Banking) grew to INR 22,278 Cr. as on December 31, 2019 from INR 19,529 Cr. as on December 31, 2018 a growth rate of 14%.
m) Net Advances (including Corporate Banking) grew to INR 25,438 Cr. as on December 31, 2019 from INR 22,888 Cr. as on December 31, 2018 a growth rate of 11%.
n) CASA ratio stood at 23.34% as on December 31, 2019 as against 24.25% as on December 31, 2018.
o) Net Interest Margin for Q3 FY 2020 was 3.71% as against 3.83% for Q3 FY 2019
p) Gross NPA ratio stood at 2.15% as on December 31, 2019 as compared to 1.92% as on December 31, 2018 and 2.09% as on September 30, 2019.
q) Net NPA ratio remained at 1.03% as on December 31, 2019 as compared to 0.71% as on December 31, 2018 and 0.96% as on September 30, 2019.
r) Capital Adequacy Ratio (CAR) was strong at 15.80% as on December 31, 2019 with Tier I at 12.30% and Tier II at 3.50% as per Basel III norms.
s) As of December 31, 2019 the Net Restructured Standard Advances was approximately INR 46 Cr.
t) As on December 31, 2019 the Bank sold to an asset reconstruction company, certain Non-Performing Loans amounting to net book value of INR 29.57 Cr. for consideration of INR 38.47 Cr. As per the extant RBI guidelines, the Bank has netted off INR 8.90 Cr. the excess over net book value against book value of Security Receipts.
u) The Bank had 334 branches as on December 31, 2019.
