NEW DELHI: DCB Bank today reported a net profit of Rs 64 crore in the fourth quarter ended March of 2017-18 on the back of increase in operating profit.
The private sector lender had posted a profit after tax (PAT) of Rs 53 crore in the year-ago period.
In a regulatory filing, the bank said its operating profit rose to Rs 142 crore during the quarter from Rs 115 crore in the corresponding quarter of 2016-17, an increase of 23 per cent.
"Branch expansion strategy seems to be delivering expected outcomes, so far we are making satisfactory progress. Our intention is to achieve steady, consistent and profitable growth while ensuring low NPAs (non performing assets), DCB Bank's MD and CEO Murali M Natrajan said.
The bank said it earned a net interest income of Rs 264 crore as against Rs 220 crore in the same period of the last year, a growth rate of 20 per cent.
Besides, it earned non-interest income of Rs 85 crore during the quarter under review, against Rs 63 crore in the same period of the previous fiscal, an increase of 34 per cent.
Also, the bank today informed BSE that its board of directors have recommended a dividend of Rs 0.75 per equity share of Rs 10 each for the year ended March 31, 2018.
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