The Board of Directors of
Development Credit Bank Ltd
took on record the unaudited
results for the quarter and
nine months ended December
2006 at its meeting held in
Mumbai on January 27, 2007.
Net profit for the nine
months ended December 2006
stood at Rs 7.78 crore while
total income for the period
stood at Rs 322.28 crore
compared to Rs 271.21 crore
in the nine months ended
December 2005.
Net Interest Income
increased by 47% to clock
Rs.81 crores for the nine
month period. Non Interest
income for the period
registered an increase of
37% to reach Rs.82.crores.
Total income was up 42%
compared to the
corresponding period in FY
2006. Operating Profit for
the period amounted to Rs.25
crores as against an
operating loss of Rs.6
crores for the corresponding
period of FY 2006.
Commenting on the results
Mr. Gautam Vir, Managing
Director & CEO, Development
Credit Bank Ltd. said,
"Turnaround at DCB
continues. By industry
standards, it has been
spectacular progress and
remarkable in the speed of
execution. We have set very
high goals which we are
confident of achieving going
forward."
Performance Highlights of
the Development Credit Bank:
Deposits at Rs.3692.13 crore-with
a growth of 20% over
December 2005
Advances at Rs.2152.36 crore
–growth of 12% over December
2005.
Increase in Balance Sheet
size by 21% over December
2005.
Net NPAs contained at 2.78%
from 4.92% in December 2005.
Substantial increase in NPA
Coverage at 77%.
Capital Adequacy Ratio at a
comfortable 13.54%,out of
which Tier I is 10.34%
Fully Adjusted Book value
increased from Rs.5.99 in
Dec 05 to Rs.16.29 in Dec 06
More information about the Development Credit Bank
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