DCB Bank posts PAT of Rs97cr in Q3FY20

DCB Bank posts PAT of Rs97cr in Q3FY20
DCB Bank announced its results for Q3FY20 on January 25, 2020. The bank’s Profit After Tax was at Rs97cr in Q3FY20 as against Rs86cr in Q3FY19.

The Bank acquired Deposits and Advances of approximately Rs638cr and Rs320cr respectively of certain customers of two branches of Abu Dhabi Commercial Bank (ADCB) in India. Further, in January 2020 the Bank acquired Deposits of approximately Rs216cr in the second and final phase.

Profit Before Tax was at Rs131cr in Q3FY20 as against Rs134cr in Q3FY19. Operating Profit of Rs190cr over Rs174cr for the same period as compared to last year. The Bank earned Net Interest Income of Rs323cr as against Rs294cr for the same period as compared to last year. Non-Interest Income of Rs93cr against Rs94cr for the same period as compared to last year.

As compared to Q3FY19, Cost Income Ratio has improved from 55.22% to 54.36%. Return on Equity (Annualized) was at 12.67% in Q3FY20 as compared to 12.64% in Q3FY19. As on December 31, 2019, the Bank grew Deposits by 8% to Rs29,735cr. Customer Term Deposits grew by 21% and overall Customer Deposits grew by 16%.

During the quarter, Bank has availed Long Term Refinance from SIDBI and NHB of Rs725cr. Total Deposit from Top 20 depositors as on December 31, 2019 further reduced to 8.24% as compared to 12.01% as at March 31, 2019 and 13.16% as at December 31, 2018.

Net Advances (excluding Corporate Banking) grew to Rs22,278cr as on December 31, 2019 from Rs19,529cr as on December 31, 2018 a growth rate of 14%. Net Advances (including Corporate Banking) grew to Rs25,438cr as on December 31, 2019 from Rs22,888cr as on December 31, 2018 a growth rate of 11%. CASA ratio stood at 23.34% as on December 31, 2019 as against 24.25% as on December 31, 2018.

Net Interest Margin for Q3FY20 was 3.71% as against 3.83% for Q3FY19. Gross NPA ratio stood at 2.15% as on December 31, 2019 as compared to 1.92% as on December 31, 2018 and 2.09% as on September 30, 2019. Net NPA ratio remained at 1.03% as on December 31, 2019 as compared to 0.71% as on December 31, 2018 and 0.96% as on September 30, 2019. Capital Adequacy Ratio (CAR) was strong at 15.80% as on December 31, 2019 with Tier I at 12.30% and Tier II at 3.50% as per Basel III norms. As of December 31, 2019 the Net Restructured Standard Advances was approximately Rs46cr.

The Bank had 334 branches as on December 31, 2019.

Speaking on the Q3FY20 results Mr. Murali M. Natrajan, Managing Director & CEO said, "Funding and Deposit profile is improving steadily. We are reshaping the business to direct more effort towards Mortgages and MSME/SME while reducing focus on Commercial Vehicle. We are satisfied with the momentum in recovery / upgrades of Retail and SME NPAs. Slippage in Retail and SME segment is in line with the previous Quarter.”  


Stock view:
DCB Bank Ltd ended at Rs182.50 up by Rs0.2 or 0.11% from its previous closing of Rs182.30 on the BSE.




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