DEVELOPMENT CREDIT BANK LTD (DCB BANK) - RESULTS FOR - Q2 FY 2013-14

DEVELOPMENT CREDIT BANK LTD

RESULTS FOR 

Q2 FY 2013-14

Q/E SEP 2013

DCB Bank (Development Credit Bank Ltd.) declared Q2 FY 2014 Net Profit of Rs. 33 Cr. as compared to the Net Profit of Rs. 22 Cr. For Q2 FY 2013.

As on September 30, 2013 the Bank’s Deposits grew by 23% at Rs.8,788 Cr. while Net Advances grew by 18% and stood at Rs. 6,677 Cr. as compared to September 30, 2012.

Capital Adequacy Ratio was at 13.81% under Basel III as on September 30, 2013.

The Board of Directors of DCB Bank (Development Credit Bank Ltd.) (BSE: 532772; NSE: DCB) at its meeting in Mumbai on October 15, 2013, took on record the limited reviewed financial results of the second quarter (Q2 FY 2014).

Speaking about the performance Mr. Murali M. Natrajan, Managing Director & CEO said, “Branch expansion and growth is likely to pick up in the coming quarters. So far, NPAs are in control. The environment is challenging so we need to be careful and cautious.

Highlights:

a)      DCB Bank reported Net Profit of Rs. 33 Cr. in Q2 FY 2014 as against Net Profit of Rs. 22 Cr. in Q2 FY 2013 and Rs. 43 Cr. in Q1 FY 2014. 

b)      As on September 30, 2013, the Balance Sheet was at Rs. 11,125 Cr. as against Rs.9,298 Cr. as on September 30, 2012, a growth rate of 20%. 

c)      Retail Deposits (Retail CASA and Retail Term Deposits) continued to provide a stable resource base to the Bank. Retail Deposits were at 79% of Total Deposits as on September 30, 2013. 

d)      CASA ratio as on September 30, 2013 was at 26.9% as against 30.4% as on September 30, 2012. 

e)      Net Advances grew to Rs. 6,677 Cr. as on September 30, 2013 from Rs. 5,671 Cr. as on September 30, 2012 a growth rate of 18%. 

f)       Net Interest Margin for Q2 FY 2014 stands at 3.68% as against 3.24% for Q2 FY 2013 and 3.44% in Q1 FY 2014.

g)      Capital Adequacy Ratio (CAR) was at 13.81% as on September 30, 2013 with Tier I at 12.89% and Tier II at 0.92% as per Basel III norms. 

h)      The Bank’s branch network increased to 103 branches from 101 branches in 53 locations as on September 30, 2013.

i)        Crisil Ratings assigned a “CRISIL A1+” (pronounced as “CRISIL A one plus”) rating for Short Term Fixed Deposit Programme (with a contracted maturity of upto one year) to DCB Bank.

RESULTS TABLE

Dev.Cr.Bank	30-Sep-13	%Dif QoQ	30-Jun-13	%Dif YoY	30-Sep-12
Total Income	29608.76	-3.19	30583.9	19.65	24746.29
Total Expenditure	25597.14	0.57	25451.2	15.84	22096.32
Profit before Intst, Dep. & Taxes	4011.62	-21.84	5132.7	51.38	2649.97
Net Profit	3309.05	-22.73	4282.55	49.52	2213.1
Diluted EPS	1.31	-22.94	1.7	43.96	0.91
Interest on Advances	20519.04	1.83	20150.31	20.1	17085.53
Income on Investments	5792.95	2.11	5673.4	21.82	4755.25
Income on Balances With RBI	548.47	142.43	226.24	378.22	114.69
Others	21.39	-9.71	23.69	-45.6	39.32
Interest Earned	26881.85	3.1	26073.64	22.22	21994.79
Other Income	2726.91	-39.54	4510.26	-0.89	2751.5
Total Income	29608.76	-3.19	30583.9	19.65	24746.29
Interest Expended	17755.99	-0.03	17761.85	16.06	15299.48
Employees Cost	3880.22	2.93	3769.65	13.91	3406.39
Other Operating Expenses	3960.93	1.05	3919.7	16.83	3390.45
Operating Expenses	7841.15	1.97	7689.35	15.36	6796.84
Total Expenditure	25597.14	0.57	25451.2	15.84	22096.32
Operating Profit	4011.62	-21.84	5132.7	51.38	2649.97
Provisions	702.57	-17.36	850.15	60.82	436.87
Profit before tax	3309.05	-22.73	4282.55	49.52	2213.1
Net Profit	3309.05	-22.73	4282.55	49.52	2213.1
Face Value (Rs)	10	0	10	0	10
Paid-up Equity	25020.71	0.03	25014.21	3.96	24067.18
Capital Adequacy Ratio	13.81	-0.58	13.89	-1.15	13.97
Basic EPS	1.32	-22.81	1.71	43.48	0.92
Diluted EPS	1.31	-22.94	1.7	43.96	0.91
Net NPA	5716	5.25	5431	48.85	3840
Net NPA(%)	0.86	2.38	0.84	26.47	0.68
Return on Assets	1.19	-23.23	1.55	23.96	0.96
Public holding (No. of Shares)	204006863	0.03	203941863	4.9	194471598
Public Holding (%)	81.54	0.01	81.53	0.92	80.8

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