The Board of Directors of DCB Bank at its meeting in Mumbai on Tuesday, took on record the limited reviewed financial results of the second quarter (Q2 FY 2014).
As on Sept 30, 2013 the bank's deposits grew by 23 percent at Rs.8,788 Cr. while net advances grew by 18 percent and stood at Rs. 6,677 Cr. as compared to Sept 30, 2012.
The Capital Adequacy Ratio was at 13.81 percent under Basel III as on Sept 30, 2013.
Speaking about the performance Murali M. Natrajan, Managing Director and CEO said, "Branch expansion and growth is likely to pick up in the coming quarters. So far, NPAs are in control. The environment is challenging so we need to be careful and cautious."
As on Sept 30, 2013, the Balance Sheet was at Rs. 11,125 Cr. as against Rs.9,298 Cr. as on Sept 30, 2012, a growth rate of 20 percent.
Retail Deposits (Retail CASA and Retail Term Deposits) continued to provide a stable resource base to the bank.
Retail Deposits were at 79 percent of total deposits as on Sept 30, 2013.
CASA ratio as on Sept 30, 2013 was at 26.9 percent as against 30.4 percent as on Sept 30, 2012.
The net advances grew to Rs. 6,677 Cr. as on Sept 30, 2013 from Rs. 5,671 Cr. as on Sept 30, 2012 a growth rate of 18 percent.
The net interest margin for Q2 FY 2014 stands at 3.68 percent as against 3.24 percent for Q2 FY 2013 and 3.44 percent in Q1 FY 2014.
DCB Bank also noted that the Capital Adequacy Ratio (CAR) was at 13.81 percent as on Sept 30, 2013 with Tier I at 12.89 percent and Tier II at 0.92 percent as per Basel III norms.
The Bank's branch network increased to 103 branches from 101 branches in 53 locations as on Sept 30, 2013.
Crisil Ratings assigned a 'CRISIL A1+' rating for Short Term Fixed Deposit Programme (with a contracted maturity of upto one year) to DCB Bank.
--IBNS (Posted on 16-10-2013)