DCB Bank Q2 Results: Profit jumps 23% to Rs 155 crore, NII up 7%

DCB Bank reported a 23 percent growth in net profit for the quarter ended September 2024. The Bank’s profit after tax was at RS 155 crore for the quarter compared to Rs 127 crore in the September 2023 quarter.

The banks’ net interest income was up 7 percent year-on-year to Rs 509 crore. Other Income was almost double at Rs200 crore compared to Rs 107 crore in the same period a year ago due to a rise in fee-based income and treasury profits.

The bank’s stock price was at Rs 110.25 at the BSE on Thursday, down 1.34 percent.


“ Greater focus on analytics and engagement to give us benefits on the fee line. Recoveries and upgrades continue to be encouraging. We are working on improving the productivity and looking ahead we expect steady improvement in profitability ” said Praveen Kutty, managing director & CEO, DCB Bank is his assessment and outlook.

While advances grew 19 percent year-on-year and deposit grew 20 percent year-on-year. The bank’s gross non-performing assets ratio as on September30, 2024 was at 3.29 percent compared to 3.36 percent as of end September 2023.

The Provision Coverage Ratio (PCR) as on September 30, 2024 was at

75.62 percent and PCR without considering gold Loans NPAs was at 76.41 percent.