The bank had posted a net profit of Rs 96.21 crore in the same quarter a year ago.
With the rise in total non-performing assets, the bank’s asset quality has deteriorated
For the quarter ended December 2021, DCB Bank’s net profit fell 22 percent to Rs 75.37 crore.
Total income declined to Rs 996.42 crore in the October – December quarter of 2022, from Rs 1,025.98 crore in the year-ago period, DCB Bank said in a regulatory filing.
DCB Bank Limited is a Scheduled Bank Commercial Bank of India. It is one of the next generation banks to be licensed as Scheduled Commercial Banks by the Reserve Bank of India, the bank’s regulator. DCB Bank was licensed on May 31, 1995.
CB Bank Ltd has 354 branches across India till June 30, 2021, and operates within the geography of India. It is publicly listed on the Bombay Stock Exchange and the National Stock Exchange in India respectively. DCB Bank offered shares to the public in 2006 through an initial public offering (IPO).
Historically, the origin of DCB Bank in Maharashtra, India was the result of the merger of Ismailia Co-operative Bank Ltd with Masalawala Co-operative Bank to form the Development Co-operative Bank.
It became a Development Credit Bank in May 1995 when the Reserve Bank of India issued a scheduled bank license. DCB Bank Ltd. is a contemporary identity, registered entity, and corporate logo.
Interest income of private-sector lenders rose to Rs 878 crore from Rs 869.35 crore in the year-ago period. Total non-performing assets (NPAs) rose to 4.73 percent of GDP at the end of December 2021 from 1.96 percent in the previous year. At the end of September 2021, the total NPA was 4.68%.
Net non-performing assets (NPAs) rose to 2.52 percent at the end of December from 0.59 percent a year ago but fell sharply to 2.63 percent at the end of September. The bank had set aside Rs 96.98 crore for Q3FY22 provisions and contingencies from Rs 149.83 crore in the previous quarter.
Shares of the bank fell 3.4 percent to Rs 85.15 on the BSE.
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