DCB Bank Announces FY 2015 Results

-DCB Bank Limited (Formerly Development Credit Bank Ltd.) declared FY 2015 Net Profit of Rs. 191 Cr.

-Net Profit for Q4 FY 2015 stood at Rs. 63 Cr. against a Net Profit of Rs. 39 Cr. in Q4 FY2014, increase of 61%.

-Tax expense for FY 2015 was Rs. 27 Cr. which was partly offset by creation of net Deferred Tax Asset (DTA) of Rs.10 Cr.

-Excluding impact of the DTA, Net Profit for Q4 FY 2015 was Rs. 54 Cr. which is an increase of 36% over Net Profit for Q4 FY 2014.

-As on March 31, 2015 the Bank’s Deposits grew by 22% at Rs. 12,609 Cr. while Net Advances grew by 29% and stood at Rs. 10,465 Cr. as compared to March 31, 2014.

-Capital Adequacy Ratio was at 14.95% under Basel III as on March 31, 2015.

The Board of Directors of DCB Bank Ltd. (formerly - Development Credit Bank Ltd.) (BSE: 532772; NSE: DCB) at its meeting in Chennai on April 14, 2015, took on record the audited financial results of the fourth quarter (Q4 FY 2015) and the year ended March 31, 2015 (FY 2015).

Highlights:

From April 2013 the Bank has increased its branch network from 94 to 154 and the number of employees has gone up from 2,220 to 3,352. As per our estimates, the investments in branch network and number of employees increase is approximately Rs. 30 Cr. for the year ended March 31, 2015. These investments are expected to break even in about 18 to 24 months.

As on March 31, 2015, the Balance Sheet was at Rs. 16,132 Cr. as against Rs. 12,923 Cr. as on March 31, 2014, a growth rate of 25%.

As on March 31, 2015, the Bank’s Deposits stood at Rs. 12,609 Cr. and Net Advances reached Rs. 10,465 Cr. In comparison to March 31, 2014, Deposits have grown by 22% and Net Advances by 29%.

Retail Deposits were at 80% of Total Deposits as on March 31, 2015.

CASA ratio as on March 31, 2015 was at 23.4% as against 25.0% as on March 31, 2014.

The Gross NPA stood at 1.76% and Net NPA was at 1.01% as on March 31, 2015.

Net Interest Margin for FY 2015 stands at 3.72% as against 3.56% for FY 2014. Q4 FY 2015 NIM was at 3.75% as against 3.59% for Q4 FY 2014 and 3.70% for Q3 FY 2015.

As on March 31, 2015, the Bank’s Capital Adequacy Ratio was at 14.95%, with Tier I core capital at 14.21% under Basel III.

Speaking on the occasion, Mr. Murali M. Natrajan, Managing Director & CEO said, "Larger contribution from small ticket Retail / MSME / SME loans and limiting unsecured / large ticket exposure is helping us make steady progress while containing NPAs. We plan to expand our branch network and staff strength in a calibrated manner.”

Speaking about the performance Mr. Nasser Munjee, Chairman said, "I am pleased with our current year performance. It has been a satisfying journey so far. We are continuously improving and strengthening our franchise.”

About DCB Bank

DCB Bank Limited (Formerly Development Credit Bank Ltd.) is a modern emerging new generation private sector bank with 154 branches across 17 states and 2 union territories. It is a scheduled commercial bank regulated by the Reserve Bank of India. It is professionally managed and governed. DCB Bank has contemporary technology and infrastructure including state of the art internet banking for personal as well as business banking customers.

The Bank’s business segments are Retail, micro-SMEs, SMEs, mid-Corporate, Microfinance Institutions (MFI), Agriculture, Commodities, Government, Public Sector, Indian Banks, Cooperative Banks and Non-Banking Finance Companies (NBFC). DCB Bank has approximately 500,000 customers.

The Bank has deep roots in India since its inception in 1930s. Its promoter and promoter group the Aga Khan Fund for Economic Development (AKFED) and Platinum Jubilee Investments Ltd. holds over 16% stake. AKFED is an international development enterprise. It is dedicated to promoting entrepreneurship and building economically sound companies.

AKFED operates as a network of affiliates with more than 90 separate project companies over 30,000 people. The fund is active in 16 countries in the developing world. AKFED had co-promoted HDFC in India in the late 70s.

For more details please visit www.dcbbank.com & http://www.akdn.org/akfed

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