DCB Bank Q4 Review - Asset Quality Deteriorates; Gross Restructured Book Stood At 4.2%: IDBI Capital
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IDBI Capital Report
DCB Bank Ltd.’s asset quality deteriorates as gross non-performing asset stood at 4.1% versus 3.7% QoQ and net non-performing asset at 2.3% versus 1.92% QoQ.
Gross restructured book stands at Rs 10.9 billion (4.2% of advances) in line with guided range of 3%-5% of book.
Bank’s credit growth improved to 2% YoY as against 0.5% YoY (Q3 FY21) while deposits continue to decline; de-grew by 2% YoY.
Net interest income de-grew by 4% YoY led by decline in margins.
Profit after tax grew by 13% YoY led by lower provisions (down 14% YoY; Rs 1.24 billion for Covid-19 provisions).
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