DCB Bank reported a net profit of ₹96.21 crore for the third quarter of the fiscal, which was almost the same as ₹96.7 crore in the same period last fiscal.
The bank’s net interest income increased by four per cent to ₹335 crore for the quarter ended December 31, 2020 as against ₹323 crore a year ago.
Non-interest income increased by 66 per cent to ₹154 crore.
Provisions rose to ₹147.71 crore from ₹59 crore.
In a statement on Saturday, DCB Bank said that apart from provisions for gross non-performing assets, it is holding provisions as on December 31, 2020 of ₹229 crore for Covid-related stress, ₹56 crore for specific standard assets, ₹47 crore for restructured standard assets, ₹106 crore as floating provisions and ₹81 crore for standard assets provisions.
“This amounts to 2.05 per cent of net advances as at December 31, 2020,” it said.
It also reported ₹687 crore as net restructured standard advances including Covid-19 relief, largely contributed by mortgages, commercial vehicles and SME and MSMEs.
The gross NPA as on December 31, 2020 was at 1.96 per cent and net NPA was at 0.59 per cent as against 2.15 per cent and 1.03 per cent, respectively, on December 31, 2019.
If the bank had classified borrowers accounts as NPA after August 31, 2020, its gross NPA ratio and net NPA ratio would have been 3.70 per cent and 1.92 per cent, respectively.