DCB Financial institution This fall web revenue jumps to Rs 113 crore

Banking-Finance

DCB Financial institution This fall web revenue jumps to Rs 113 crore

By editor
May 8, 2022
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Personal sector lender DCB Bank on Saturday posted a 44.87 per cent rise in its web revenue at Rs 113 crore for the quarter ended March 2022.

The financial institution had registered a web revenue of Rs 78 crore in the identical quarter a yr in the past.

Complete revenue within the March quarter of the fiscal yr 2021-22 elevated to Rs 1,035 crore, as towards Rs 967 crore in the identical quarter of 2020-21, DCB Financial institution mentioned in a regulatory submitting.

Internet curiosity revenue in the course of the quarter rose to Rs 380 crore, from Rs 311 crore.

Financial institution’s asset high quality, nevertheless, confirmed a slight impairment from the year-ago interval at 4.32 per cent of the gross advances as of March 31, 2022, as towards 4.13 per cent by March 2021. Nevertheless, it improved sequentially from 4.78 per cent on the finish of December 2021.

In worth phrases, the gross NPAs stood at Rs 1,290 crore within the interval beneath evaluation, as towards Rs 1,083 crore.

Alternatively, the online NPAs or dangerous loans fell 1.97 per cent (Rs 573 crore), as towards 2.31 per cent (Rs 594 crore) within the year-ago interval.

Nevertheless, the online revenue for full yr FY2022 decreased by 14.3 per cent to Rs 288 crore, from Rs 336 crore in FY2021.

The board of administrators have beneficial a dividend of Rs 1 per share at 10 per cent for the yr ended March 31, 2022, topic to shareholders’ approval within the ensuing Annual Normal Assembly, DCB Financial institution mentioned.

The primary goal market of the financial institution is the MSME/SME section. By way of merchandise, the financial institution is concentrated on rising dwelling loans, enterprise loans (LAP), gold loans, MSME/SME (CC/OD/Time period), KCC (Kisan Credit score Card), tractor loans, loans to MFls and MFI-BC Loans, it mentioned.

In FY 2022, the financial institution additionally launched into lending within the TReDS platform and gold loans by way of co-lending partnership, the financial institution mentioned.

Within the company section, the financial institution continues to cautiously goal short-term loans.

As on March 31, 2022, web advances have been at Rs 29,096 crore, a 13 per cent development from a yr in the past, it mentioned.

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Lexie Ayers

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