DCB Bank Q2 profit falls 10% at Rs. 82 Cr.

The bank invested a total profit of ₹ 91 crores in the last quarter of the financial year. Profit before the quarterly tax is affected by cr 48 crore COVID-19 for the provision of a control package. To further strengthen the balance sheet, the bank intends to make security arrangements with the provision of the current location, DCB Bank said.

Total revenue decreased by an average of ₹ 970.98 crores in July-September 2020-21 compared to ₹ 980.59 crores in the same year last year. Total interest income increased by 7 percent to ₹ 334 crores, while non-interest income decreased by 9 percent to 92 crores.

DCB Bank said it aims to keep interest rates at the same level for 2019-20. However, due to low business prices and the disruption of COVID-19, key revenues may be reduced compared to the previous year. Operating costs increased by 22 percent at ₹ 225 crores compared to ₹ 185 crores. Bank overdue loans or non-performing assets (NPAs) increased to 2.27 percent of major developments by the end of September 2020 compared to 2.09 percent during the same period last year. In terms of value, they were ₹ 573.70 crores compared to ₹ 523.24 crores.

However, NPA nets improved by 0.83 percent (₹ 205.77 crore) from 0.96% (₹ 237.86 crore).Overdue loan offers and unforeseen circumstances have doubled to ₹ 113.10 crores quarterly from .2 43.27 crores over the past year. Private sector lenders said there had been a slight increase in interest rates (below ₹ 2 crores) over the past two years and a significant deposit reduction. Final sales revenue grew by 33 percent from the previous year. While the top 20 deposits stand at 7.89 percent.

The lender said that in the coming months it would focus on Development Credit Bank business loans (property loans), mortgages, Development Credit Bank Gold Loans, Kisan Credit Card, tractor loans, and short-term corporate loans. Quarterly progress has been slightly higher from last year at, 24,879 crores.

We anticipate a step-by-step improvement in the performance of collections in the coming months. We believe the ECLGS (Emergency Credit Line Guarantee Scheme) is an excellent program that can help close the operating gap and immediate financial commitments, especially for small self-employed companies. The new loan drive is starting and we aim to achieve monthly rates such as pre-COVID-l9 between March 2021 to May 2021, said Murali M Natrajan, Managing Director, and CEO, DCB Bank. PTI KPM KPM ANU ANU

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