Share value of DCB Bank additional one % within theearly trade on weekdaywhen analysis house Kotak Institutional Equities has maintained get rating on the stock and raised target to Rs 210 from Rs 185 per share.
The company has reported fifty one % YoY earnings growth LED by forty secondYoY in operation profit growth. Also, most of the key metrics were stable on QoQ basis.
It believes that there's a lower concern on qualityquality resulted in RoAs moving past one % and RoEs of eleven %.
The company's third quarter income enlarged by fifty one% at Rs eighty six.1 large integer despite higher provisions. the expansionwas for the most part driven by NII, different financial gainand in operation financial gain.Profit in same quarter last year stood at Rs fifty seven large integer.
Net interest financial gain, the distinction between interest attained and interest spent, grew by 17.2 % year-on-year to Rs a pair of93.6 large integer with credit growth of twenty three % Yoy
Net interest margin was unchanged at three.83 % in Q3 QoQ, however narrowedfrom four.12 % in same amount last year.
Asset quality slightly weakened throughout the quarter. Gross non-performing assets (NPA) as a proportion of gross advances were higher at one.92 % in Q3 against one.84 % in Q2 and internet NPAs were higher at zero.71 % against zero.70 %QoQ.
At 09:22 hrs DCB Bank was quoting at Rs 182.35, up Rs 0.85, or 0.47 % on the BSE.
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