Development Credit Bank (DCB) has reported results for first quarter ended June 30, 2013.
The bank has registered a jump of 126.46% in its net profit at Rs 42.83 crore for the quarter under review as compared to Rs 18.91 crore for the same quarter in the previous year. Total income of the bank has increased by 26.88% at Rs 305.84 crore for Q1FY14 as compared Rs 241.05 crore for the corresponding quarter previous year.
Gross non-performing assets (NPAs) improved to 3.41% in the April-June quarter as against 4.18% in the same quarter previous year while net NPAs improved to 0.84%.
Development Credit Bank is a modern emerging new generation private sector bank with 101 branches across 15 cities and 296 ATMs. Present since 1930s, DCB is the only co-operative bank in India to have been converted into a private sector commercial bank in 1995.
