DCB Bank slips after weak Q4 performance

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DCB Bank slips after weak Q4 performance

DCB Bank decreased by 2.73% to Rs 58.80 after gross profit decreased by 28.6% to Rs 68.76 crore by 9.2% in total inflation to Rs 1011.79 crore in Q4 March 2020 above Q4 March 2019.

Interest income increased by 7.6% to Rs 324 crore in Q4 FY20 from Rs 301 crore in Q4 FY19.  The bank did more than what was required by the guidelines, the bank said in a statement.

Provisions and emergencies increased from 239.97% to Rs 118.24 crore in Q4 March 2020 from Rs 34.78 crore in Q4 March 2019. The supply availability rate stands at 70.81% as of 31 March 2020 as compared to 78.77 % as of 31 March 2019.

Non-performing assets (NPAs) stood at Rs 631.51 as of 31 March 2020 compared to Rs 552.03 crore as of 31 December 2019 and Rs 439.48 crore as of 31 March 2019. Rate of large NPAs to sales The largest figure stands at 2.46% as of 31 March 2020 compared to 2.15% on 31 December 2019 and 1.84% as of 31 March 2019. The average NPA level stands at 1.16% on -31 March 2020 as compared to 1.03% as of 31 December 2019 and 0.65% as of 31 March 2019.

Total profits increased by 3.9% to Rs 337.94 crore by 15.8% of the total increase to Rs 3927.73 crore for the year ended March 2020 (FY20) for the year ended March 2019 (FY19). PBT stands at Rs 491.92 crore at FY20, down 2.9% from Rs 506.54 crore at FY19.

Bank charges have increased by 6.8% to Rs 30,370 crore from 31 March 2020 from Rs 28,435 crore from 31 March 2019. The CASA rate stands at 21.47% as of 31 March 2020 if compared to 23.95% as of 31 March 2019.% to Rs 25,345 crore from 31 March 2020 from Rs 23,568 crore from 31 March 2019.

DCB Bank CEO and CEO Murali M Natrajan said, Our main focus for the next two years will be to move carefully in a difficult and uncertain environment focused on addressing potential portfolio pressure, assisting lenders with regulatory guidelines, reducing costs, and adequately maintaining debt. In our view, the second legislative assistance has come at the right time because the closure limits are reduced so the flow of funds in the economy should first allow customers to be able to fulfill their loan obligations easily after the suspension period. This also includes the Development Credit Bank Gold Loan.

DCB Bank is a private sector bank with 336 branches in 19 provinces and two union areas.

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