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Development Credit Bank reports 98% surge in Q4 net profit

12 Apr 2013 Evaluate

Development Credit Bank has reported results for the quarter & year ended March 31, 2013.

The bank has registered 97.51% rise in its net profit after at Rs 34.11 crore in Q4FY13 as compared to Rs 17.27 crore in the same quarter previous year. For the full year, the bank has reported a net profit of Rs 102.06 crore for the year ended March 31, 2013, a growth of 85.29% as compared to Rs 55.08 crore for the year ended March 31, 2012. Total income has increased to Rs 1033.12 crore in FY13 from Rs 517.34 crore in FY12, up by 99.70%.

As on March 31, 2013, the bank’s deposits grew by 32% at Rs 8,364 crore while, net advances grew by 25% and stood at Rs 6,586 crore as compared to March 31, 2012.

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