DCB Bank Q1 gross NPAs jump to Rs 622 crore


Mumbai (Maharashtra)

Private sector lender DCB Bank on Saturday reported a marginal decline in its net profit for Q1 FY21 at Rs 79 crore as compared to Rs 81 crore in the same period of last financial year.

However, the gross non-performing assets (NPAs) jumped to Rs 622 crore from Rs 476 crore in Q1 FY20 while the percentage of gross NPAs to gross advances went up to 2.44 percent from 1.96 per cent.

The amount of net NPAs too moved up from Rs 196 crore to Rs 248 crore in Q1 FY21.
Worryingly, provisions and contingencies increased to Rs 84 crore from Rs 41 crore in the same period. The percentage of return on assets came down to 0.82 from 0.89 on annualised basis.

The interest earned in Q1 FY21 totalled Rs 873 crore as compared to Rs 858 crore in Q1 FY20 while interest expended was Rs 566 crore as against Rs 553 crore.
DCB Bank is a new-generation private sector bank with 336 branches across 19 states and two union territories.

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