DCB Bank’s Q4 Net Rises 10% on SME, Home Loans
Mumbai: DCB Bank’s fourth quarter net profit increased 10% to .₹ 70 crore from .₹ 63 crore in the previous comparable quarter mainly due to loan demand from small and medium enterprises (SMEs), individuals for buying homes and the agricultural sector. Other income from fees and commissions also increased 33% to .₹ 61 crore from .₹ 46 crore in the quarter ended March 2015. The bank also sold retail loans worth .₹ 58 crore to an asset reconstruction company. DCB is the first bank to announce results in the current season. IndusInd and HDFC Bank will announce their results next week. MD & CEO Murli Natrajan said that the bank expects to double its loan book in the next two years, riding mainly on demand from small enterprises and individuals. “Corporate loan is a very small part of our business (15%). We expect small loans and retail to continue to grow fast,” he said.