Delighted to share an update that DCB Bank has announced its Q2FY24 results, reporting a PAT of INR 127 Cr. In comparison to the PAT for Q2 FY2023 was at 112 Cr. reporting a growth of 13%
Notable points:
- · Advances growth year-on-year was at 19% and Deposit growth year-on-year was at 23%.
- · The Gross NPA as on September 30, 2023 was at 3.36% and 1.28% respectively. Both Gross NPA and Net NPA declined in comparison to last year.
- The Provision Coverage Ratio (PCR) as on September 30, 2023 was at 75.49% and PCR without considering Gold Loans NPAs was at 76.63%
- · Capital Adequacy continues to be strong and as on September 30, 2023, the Capital Adequacy Ratio was at 16.55% (with Tier I at 14.28% and Tier II at 2.27% as per Basel III norms).
Speaking on the Q2 FY 2024 results Mr. Murali M. Natrajan, Managing Director & CEO said, “The Bank’s growth trajectory is expected to improve further in the coming months. The market conditions have impacted Cost of Deposit/ Funds and CASA balances, which is expected to stabilize in two quarters or so”.