DCB Bank Q3 results: Net profit rises 11%, net interest income up 6%

DCB Bank on Wednesday, January 24, posted an 11.2% increase in net profit to ₹126.6 crore for the third quarter of FY24, against ₹113.9 crore in the same period last year. The bank's net interest income (NII) registered a growth of 6.3%.

The NII for Q3FY24 reached ₹474 crore, compared to ₹446 crore in the corresponding period of the previous fiscal year.

The gross non-performing asset (NPA) ratio stood at 3.43%, compared to 3.36% in the previous quarter.

The net NPA ratio showcased an improvement from the previous quarter. As of Q3FY24, the net NPA ratio was reported at 1.22%, down from 1.28% in the previous quarter.

The capital adequacy ratio (CAR), as of December 31, 2023, stood at 15.72%.

Murali M. Natrajan, Managing Director & CEO of DCB Bank, commented on the results, stating, “We are pleased with the sustained growth in our net profit and net interest income. Our focused approach on asset quality is reflected in the marginal improvement in NPA ratios. The bank remains committed to maintaining a robust financial position and delivering value to our stakeholders.”