The non-public sector lender registered a web revenue of Rs 81 crore in April-June, 2019-20.
Through the quarter beneath overview, the financial institution made an total provision of Rs 85 crore, it mentioned in a launch. Of this, Rs 32 crore was further COVID-19 provision whereas Rs 13 crore was common NPA provision.
“The financial institution already holds a provision of Rs 63 crore for COVID-19 as on March 31, 2020 taking the overall to Rs 95 crore as on June 30, 2020. That is thought-about enough and above minimal regulatory necessities,” it added.
As on June 30, 2020, the financial institution had a floating provision of Rs 99 crore and commonplace belongings provision of Rs 121 crore.
Complete revenue of the financial institution within the quarter additionally fell by 2 per cent to Rs 384 crore from Rs 392 crore within the year-ago similar interval, it mentioned.
Curiosity revenue, nevertheless, was up 1 per cent at Rs 307 crore through the quarter as towards Rs 305 crore earlier.
At June-end 2020, the online restructured commonplace advances stood at Rs 469 crore (business car Rs 239 crore, mortgage Rs 147 crore, SME/MSME Rs 65 crore, company Rs 11 crore and others Rs 7 crore), the financial institution mentioned.
The financial institution’s gross non-performing belongings (NPAs) rose to 2.44 per cent of the gross advances as on June 30, 2020, from 1.96 per cent by June 2019, whereas the online NPA elevated to 0.99 per cent from 0.81 per cent.
“NPAs are prone to enhance as soon as the moratorium interval ends on August 31, 2020. The financial institution intends to help its clients inside the tips with the intention to address the COVID-19 stress. The financial institution intends to make provisions greater than regulatory minimal on a constant and prudent foundation,” DCB Financial institution mentioned.
The availability protection ratio as on June 30, 2020 was at 75.2 per cent.
“The lockdown disruptions are slowly decreasing. We’ve got to be cautious. We’re concentrating on collections and recoveries, implementing the assure scheme, dwelling loans, gold loans and Agri associated loans.
“As a part of the strategic price administration, we’re accelerating our digital agenda with the intention to obtain long-term price efficiencies,” mentioned Murali M Natrajan, Managing Director & CEO, DCB Financial institution.