NEW DELHI: New generation private sector lender DCB Bank has registered a flat growth in net profit at Rs 96.21 crore during the quarter ended December largely on account of higher provisioning. During the quarter under review, provisions more than doubled to Rs 148 crore, from Rs 59 crore in the year-ago period.
Revenues, however, rose marginally by 3.3 per cent at Rs 1,023.86 crore. While treasury income was higher in the December quarter, interest income from retail and corporate lending business fell sharply. The operating performance of the bank has also been steady with net interest income increasing four per cent to Rs 335 crore during the quarter as against Rs 323 crore in 2019.
Non-interest income went up 66 per cent to Rs 154 crore. It has also reported Rs 687 crore as net restructured standard advances including Covis-19 relief, largely contributed by mortgages, commercial vehicles and the MSME sector. “While the ground situation is improving steadily, customers deeply impacted by the lockdown disruption may need more lime to revive their business to pre-Covid-19 level,” said Murali M. Natrajan, Managing Director and CEO of DCB Bank.