DCB Bank (DCBBANK) Q4 00/01 earnings summary

Executive summary

• FY2000-01 net profit after tax reached Rs 30.03 crore, the highest since conversion in 1995; cost controls offset subdued securities-trading profits.

• Deposits grew 24% and advances 26.10%, outpacing scheduled commercial bank growth; CRAR was 11.28%.

Financial highlights

• Gross income was Rs 437,57,35 thousand versus Rs 330,33,44 thousand; operating profit before provisions and tax was Rs 64,02,90 thousand versus Rs 62,98,26 thousand.

• Net profit after tax was Rs 30.03 crore versus Rs 28.96 crore; EPS was Rs 13.06 per Rs 10 share.

• Net worth was Rs 298.72 crore; working funds rose 19% to Rs 3,965 crore.

• Interest earned was Rs 388,79,20 thousand and interest expended Rs 301,85,58 thousand for FY2000-01.

Outlook and guidance

• Two RBI-approved branch locations were expected to open by end-2001; applications were submitted for seven additional branch licences.

• PowerBanker rollout to all branches was targeted before end-2001; wider implementation was expected to enable cross-branch, ATM, telephone and internet banking services.

• Management was considering strategies to strengthen CRAR, including Tier II capital; no Tier II subordinated debt had been raised as of March 31, 2001.