DCB Bank announces Third Quarter FY 2019 Results- PAT at INR 86Cr

Manish Mathur January 16, 2019

Jaipur , January 16, 2019, Mumbai: The Board of Directors of DCB Bank Ltd. (BSE: 532772; NSE: DCB) at its meeting in Mumbai on January 16, 2019, took on record the limited reviewed financial results of the third quarter (Q3 FY 2019).

Q3 FY 2019 Highlights:

  1. a) The Bank’s Profit After Tax was at INR 86 Cr. in Q3 FY 2019 as against INR 57 Cr. in Q3 FY 2018, an increase of 51%.

 

  1. b) Profit Before Tax was at INR 134 Cr. in Q3 FY 2019 a stable growth as against INR 88 Cr. in Q3 FY 2018, an increase of 51%.

 

  1. c) Operating Profit of INR 174 Cr. over INR 123 Cr. for the same period as compared to last year.

 

  1. d) The Bank earned Net Interest Income of INR 294 Cr. as against INR 250 Cr. as compared to last year. Net Interest Income increased by 17%.

 

  1. e) Non-Interest Income of INR 94 Cr. against INR 75 Cr. for the same period as compared to last year. Fee Income grew by 26%.

 

  1. f) As compared to Q2 FY 2019, Cost Income Ratio has improved by 366 bps and stood at 55.22%.

 

  1. g) Return on Equity (Annualised) was at 12.64% in Q3FY 2019 as compared to 11.13% in Q2FY 2019 and 9.29% in Q3FY 2018.

 

  1. h) Net Advances grew to INR 22,888 Cr. as on December 31, 2018 from INR 18,595 Cr. as on December 31, 2017 a growth rate of 23%.
  2. i) As on December 31, 2018, the Bank grew Deposits by 29% to INR 27,509 Cr. Retail CASA & Retail Term Deposits continued to provide a stable resource base to the Bank. Total Non-Callable Deposits were more than INR 5,000 Cr. as on December 31, 2018.

 

  1. j) CASA ratio stood at 24.25% as on December 31, 2018 as against 25.67% as on December 31, 2017, Savings Accounts year on year growth rate was 27%.

 

  1. k) During the quarter, Bank has availed long term refinance from NABARD and NHB of INR 600 Cr.

 

  1. l) Net Interest Margin for Q3 FY 2019 stands at 3.83% as against 4.12% for Q3 FY 2018 and 3.83% for Q2 FY2019.

 

  1. m) Gross NPA ratio stood at 1.92% as on December 31, 2018 as compared to 1.84% as on September 30, 2018.

Financial numbers are rounded off to nearest whole number                      Page 1 of 3

DCB Bank Limited

Corp. & Reg. Office: 6th Floor, Tower A, Peninsula Business Park, Senapati Bapat Marg, Lower Parel, Mumbai – 400013

CIN: L99999MH1995PLC089008 Tel: +91 22 66187000 Fax: +91 22 66589970 Website: www.dcbbank.com

 

  1. n) Net NPA ratio stood at 0.71% as on December 31, 2018 as compared to 0.70% as on September 30, 2018.

 

  1. o) Capital Adequacy Ratio (CAR) remained strong at 15.45% as on December 31, 2018 with Tier I at 11.93% and Tier II at 3.52% as per Basel III norms.

 

  1. p) As of December 31, 2018 the Net Restructured Standard Advances was approximately INR 32 Cr.

 

  1. q) The Bank’s branch network increased to 331 branches as on December 31, 2018.

 

Speaking about the performance Mr. Murali M. Natrajan, Managing Director & CEO said, “Step by step we are reaping the benefits of our branch expansion initiatives rolled out in the month of October 2015. As compared to the previous Quarter as well as last year same Quarter, Cost to Income Ratio, Return on Assets and Return on Equity have improved as compared to both previous Quarter and last year. We are confident of achieving steady growth while improving profitability.”

 

DCB Bank Unaudited Results for the Quarter ended December 31, 2018

 

  Rs. Cr. Q3 FY   Q3 FY Inc / Dec   Q2 FY   Q1 FY   FY  
  2018-19   2017-18   % 2018-19 2018-19  2017-18  
                 
  Interest Income 777   610   27% 736 701 2,413  
  Interest Expense (483)   (360)   (34%) (454) (428) (1,418)  
  Net Interest Income 294   250   17% 282 273 995  
  Non Interest Income 94   75   26% 73 83 310  
  Total Income 388   325   19% 355 356 1,306  
  Operating Expenses (214)   (203)   (6%) (209) (215) (781)  
  Operating Profit 174   123   42% 146 141 525  
  Provisions other than Tax (40)   (34)   (17%) (32) (33) (139)  
  Net Profit Before Tax 134   88   51% 114 108 386  
  Tax (48)   (31)   (52%) (41) (38) (141)  
  Net Profit After Tax   86   57   51% 73 70 245  
                                                 
    Key Balance Sheet Parameters                                  
                                       
  Rs. Cr. Dec 31,   Sep 30,     Jun 30,   Mar 31,   Dec 31,
  2018   2018       2018     2018   2017
                         
  Total Assets   34,382   32,510   31,178     30,222   27,151  
  Deposits   27,509   26,169   25,032     24,007   21,296  
  Net Advances   22,888   22,069   21,243     20,337   18,595  
  Investments   7,516   7,003   7,053     6,219   5,714  
  Shareholders’ Equity   3,017   2,931   2,854     2,808   2,743  
  Gross NPA Ratio   1.92%   1.84%   1.86%     1.79%   1.89%  
  Net NPA Ratio   0.71%   0.70%   0.72%     0.72%   0.87%  
  Coverage Ratio   76.99%   76.82%   76.09%     75.72%   73.36%  
  CASA Ratio   24.25%   24.30%   24.63%     24.33%   25.67%  
  Credit Deposit Ratio     83.20%   84.33%   84.86%     84.71%   87.32%  

About Manish Mathur