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Development Credit Bank reports 50% growth in Q2 net profit

15 Oct 2013 Evaluate

Development Credit Bank has reported results for second quarter ended September 30, 2013.

The bank has posted a rise of 49.53% in its net profit at Rs 33.09 crore for the quarter ended September 30, 2013 as compared to Rs 22.13 crore for the same quarter in the previous year. Total income has increased by 19.65% at Rs 296.09 crore for quarter under review as compared to Rs 247.46 crore for the quarter ended September 30, 2012.

Gross non-performing assets (NPAs) improved to 3.43% in the July-September quarter as against 3.86% in the same quarter previous year while net NPAs increased to 0.86%.

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