Private 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 12 months in the past.
Total earnings within the March quarter of the fiscal 12 months 2021-22 elevated to Rs 1,035 crore, as in opposition to Rs 967 crore in the identical quarter of 2020-21, DCB Bank stated in a regulatory submitting.
Net curiosity earnings throughout the quarter rose to Rs 380 crore, from Rs 311 crore.
Bank’s asset high quality, nonetheless, confirmed a slight impairment from the year-ago interval at 4.32 per cent of the gross advances as of March 31, 2022, as in opposition to 4.13 per cent by March 2021. However, 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 below evaluate, as in opposition to Rs 1,083 crore.
On the opposite hand, the online NPAs or dangerous loans fell 1.97 per cent (Rs 573 crore), as in opposition to 2.31 per cent (Rs 594 crore) within the year-ago interval.
However, the online revenue for full 12 months FY2022 decreased by 14.3 per cent to Rs 288 crore, from Rs 336 crore in FY2021.
The board of administrators have really useful a dividend of Rs 1 per share at 10 per cent for the 12 months ended March 31, 2022, topic to shareholders’ approval within the ensuing Annual General Meeting, DCB Bank stated.
The foremost goal market of the financial institution is the MSME/SME section. In phrases of merchandise, the financial institution is concentrated on rising dwelling loans, enterprise loans (LAP), gold loans, MSME/SME (CC/OD/Term), KCC (Kisan Credit Card), tractor loans, loans to MFls and MFI-BC Loans, it stated.
In FY 2022, the financial institution additionally launched into lending within the TReDS platform and gold loans via co-lending partnership, the financial institution stated.
In the company section, the financial institution continues to cautiously goal short-term loans.
As on March 31, 2022, web advances had been at Rs 29,096 crore, a 13 per cent development from a 12 months in the past, it stated.
Source: www.financialexpress.com”