Development Credit Bank - Q1FY13 result first cut - Microsec Research

Development Credit Bank Ltd has announced its Q1FY13 result. The bank's total income increased by 7.40% QoQ and 21.37% YoY to INR91.43 crores whereas, Profit After Tax (PAT) increased by 9.43% QoQ and 114.03% YoY to INR18.92 crores.

During the quarter, the bank's loans book and total deposits expanded by 28.70% and 14.20% YoY to INR5449 and INR6829 crores respectively. On the assets quality front, the bank has improved its assets quality. The bank's GNPA and NNPA decreased by 172 and 44bps YoY to 4.18% and 0.75% respectively.

The capital Adequacy Ratio (CAR) of the bank stood at 14.49%, which is 5.49% higher than the regulator stipulated norms. On the margin front, the bank's Net Interest Margin (NIM) improved by 6bps QoQ and 8bps YoY to 3.18%. Moreover, the Provision Coverage Ratio (PCR) and CASA ratio stood at 88.50% and 30.30% respectively.

Source : Equity Bulls

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