DCB Bank Q1 Results: PAT Reached Rs 131 Cr; Total Business Crossed Rs 90,000 Cr

At its meeting in Mumbai on July 24, 2024, the Board of Directors of DCB Bank Ltd. approved the unaudited financial statements for the quarter that ended on June 30, 2024 (Q1 FY 2025). For the first quarter of FY2025, the bank's Profit After Tax (PAT) was Rs 131 Cr up by 3% YoY from Rs 127 Cr in the same quarter of the previous fiscal.
DCB Bank reported a net interest income of Rs 497 Cr compared to Rs 471 Cr in the year-ago quarter. The bank's operating profit stood at Rs 471 Cr in Q1FY25 which was Rs 209 Cr in Q1FY24.

Mr. Praveen Kutty, Managing Director & CEO said, "The growth momentum of both deposits and loans are in line with our expectations. As intended, growth in deposits is higher than the growth in loans. The credit costs continue to be low and fee income is steadily increasing. We expect the cost of funds to stabilise over the next few months, thereby improving the NIM. Going forward, we expect to see a steady improvement in productivity and profitability."

The bank had a 19 per cent rise in advances and a rise of 20% in deposits year on year. As of June 30, 2024, the gross NPA was at 3.33%. The net NPA as of June 30, 2024, was 1.18%. As of June 30, 2024, the Provision Coverage Ratio (PCR) was at 76.00%, and 77.19% when Gold Loans NPAs were excluded. The capital adequacy ratio remained strong as of June 30, 2024, with Tier I at 14.00% and Tier II at 1.95% in accordance with Basel III standards.

The bank's balance sheet size increased 17.36% Y-o-Y to Rs 64,516 Cr while its advances jumped 18.90% Y-o-Y to Rs 42,181 Cr in Q1FY25. DCB Bank said its CASA ratio stood at 25.41% in the quarter under review which was 25.97% in Q1FY24.