DCB Bank’s Q4 Net Rises 10% on SME, Home Loans

The Economic Times - - Markets: Beating Volatility - Our Bureau

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.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.