Kolkata, May 23 (UNI) DCB Bank has recorded Profit After Tax of Rs 338 Cr. in FY 2020 as against Rs 325 Cr. in FY 2019, an increase of four per cent.
The Board of Directors of DCB Bank Ltd. at its meeting in Mumbai on May 23, 2020, took on record the audited financial results of the Fourth Quarter (Q4 FY 2020) and the Year ended March 31, 2020 (FY 2020).
The Bank’s Profit After Tax was at INR 338 Cr. in FY 2020 as against INR 325 Cr. in FY 2019, an increase of 4%. The Bank’s Profit After Tax was at INR 69 Cr. in Q4 FY 2020 as against INR 96 Cr. in Q4 FY 2019. Both FY 2020 and Q4 2020 Profit Before Tax was impacted by INR 63 Cr. Covid-19 Regulatory Package Provision. The Bank conservatively made more provision than required as per guidelines.
In FY 2020 the Operating Profit was INR 753 Cr., 16% higher than FY 2019 Operating Profit of INR 647 Cr. The Operating Profit for Q4 2020 was INR 212 Cr., 14% higher than Q4 2019 of INR 185 Cr.
In FY 2020, the Bank earned Net Interest Income of INR 1,265 Cr. as against INR 1,149 Cr. an increase of 10%. In Q4 2020 the Bank earned Net Interest Income of INR 324 Cr. as against INR 301 Cr. compared to last year.
In FY 2020, Non-Interest Income was INR 391 Cr. against INR 350 Cr. for the same period as last year delivering an increase of 12%. In Q4 2020 the Non-Interest Income was INR 110 Cr. against INR 99 Cr. for the same period last year.
The Cost Income Ratio for full year FY 2020 was 54.53% and for Q4 2020 was 51.09%. In comparison, Cost Income Ratio substantially improved over the previous year same period.
Return on Equity was at 11.19% in FY 2020 as compared to 12.08% in FY 2019. Similarly Return on Equity (Annualized) was at 8.73% in Q4 FY 2020 as compared to 13.69% in Q4 FY 2019. Both full year FY 2020 and Q4 2020 Return on Equity were impacted by Covid-19 Regulatory Package Provision.
As on March 31, 2020, Bank had refinance from NABARD, NHB and SIDBI of INR 2,680 Cr. as against INR 2,017 Cr. in FY 2019.
Total Deposit from Top 20 depositors as on March 31, 2020 reduced to 9.27% as compared to 12.01% as at March 31, 2019. This is on account of generating Retail Term Deposits as per strategy.
As on March 31, 2020, the Bank grew Deposits by 7% to INR 30,370 Cr. Retail CASA & Retail Term Deposits continued to provide a stable resource base to the Bank.
As on March 31, 2020, Retail Term Deposits less than INR 2 Cr. have grown by 51%.
Net Advances (excluding Corporate Banking) grew to INR 22,377 Cr. as on March 31, 2020 from INR 20,527 Cr. as on March 31, 2019 a growth rate of 9%.
Net Advances (including Corporate Banking) grew to INR 25,345 Cr. as on March 31, 2020 from INR 23,568 Cr. as on March 31, 2019 a growth rate of 8%.
CASA Ratio stood at 21.47% as on March 31, 2020 as against 23.95% as on March 31, 2019.
Gross NPA Ratio stood at 2.46% as on March 31, 2020 as compared to 1.84% as on March 31, 2019.
Net NPA Ratio stood at 1.16% as on March 31, 2020 as compared to 0.65% as on March 31, 2019.
Capital Adequacy Ratio (CAR) remained strong at 17.75% as on March 31, 2020 with Tier I at 13.90% and Tier II at 3.85% as per Basel III norms.
As of March 31, 2020 the Net Restructured Standard Advances was approximately INR 237 Cr. (Commercial Vehicle – INR 135 Cr., SME+MSME – INR 43 Cr. Mortgages – INR 43 Cr., Corporate – INR 11 Cr., Others – INR 5 Cr.)
The Bank’s branch network stood at 336 branches as on March 31, 2020.
Speaking about the performance Mr. Murali M. Natrajan, Managing Director & CEO said, “Our main aim in the next two quarters would be to carefully navigate through the difficult and uncertain environment focusing on handling potential portfolio stress, assisting loan customers within regulatory guidelines, effect cost reduction and maintain adequate liquidity. In our view, the second moratorium relief has come at the right time because lock-down restrictions are being reduced so cash flows in the economy should start to pick up enabling customers to service their loan obligations more easily post the moratorium period."
UNI SJC AND