Development Credit Bank (DCB), the private sector bank, today reported a net profit of Rs 450 million for the quarter ended Jun. 30, 2014, an increase of 4.65% from net profit of Rs 430 million in the same period last year.
 
Total income has gone up 35.16% to Rs 1.73 billion for the quarter ended Jun. 30, 2014 from Rs 1.28 billion in the year ago period.
 
As on Jun. 30, 2014 the bank's deposits grew by 26.83% at Rs 105.52 billion while net advances grew by 28.13% and stood at Rs 82.91 billion as compared to Jun. 30, 2013.
 
Capital adequacy ratio was at 13.63% under Basel II as on Jun. 30, 2014.

Speaking on the performance, Murali M Natrajan, managing director & CEO said, ''We have made a good beginning. Increase in branch network is putting some pressure on cost/income ratio. NPAs remain in control, however, a few accounts in SME and mid corporate continue to have payment delays. We have a few challenges in stepping up Fee Income and we are hopeful of improving the same in 6 to 9 months.''

Shares of the bank gained Rs 1.7, or 2.25%, to settle at Rs 77.40 at the BSE (Monday).