DCB Bank has allotted 92,200 equity shares under ESOP on 30 May 2023. Accordingly, the issued and paid-up share capital of the Bank stands increased from 31,16,12,133 equity shares of Rs.10/- each to31,17,04,333 equity shares of Rs.10/- each.

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DCB Bank announced that the 28th Annual General Meeting (AGM) of the bank will be held on 22 June 2023.

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The bank's profit before tax jumped 24.9% to Rs 191.46 crore in Q4 FY23 as compared with Rs 153.24 crore in Q4 FY22. Operating profit increased 10.5% year on year to Rs 243.94 crore in Q4 FY23.

Net interest income grew 28% to Rs 486 crore in Q4 FY23 as against Rs 380 crore in Q4 FY22. Net interest margin stood at 4.18% during the quarter as compared with 3.93% in corresponding quarter last year.

Advances grew 18% year on year to Rs 34,381 crore in Q4 FY23. Deposits jumped 19% year on year to Rs 41,239 crore in Q4 FY23.

Slippages stood at 3.28% as on 31 March 2023 as compared with 5.64% as on 31 March 2022. CASA ratio was at 26.42% in Q4 FY23 as against 26.75% in Q4 FY22.

Gross non performing assets (NPA) slipped Rs 1,122.84 crore as on 31 March 2023 as compared with Rs 1,289.93 crore as on 31 MArch 2022.

Gross NPA rose 3.19% in Q3 FY23 as compared with 4.32% in Q3 FY22. Net NPA was at 1.04% in Q3 FY23 as compared with 1.97% same quarter previous year.

The provision coverage ratio (PCR) as on 31 March 2023 was at 79.34% and PCR without considering gold loans NPAs was at 79.82%.

Capital adequacy continued to be strong and as on 31 March 2023, the capital adequacy ratio was at 17.55% (with Tier I at 15.18% and Tier II at 2.37% as per Basel Ill norms).

DCB Bank's net profit surged 61.9% to Rs 465.56 crore on 16.3% increase in total income to Rs 4,609.66 crore in FY23 over FY22.

Murali M. Natrajan, managing director & CEO said, We are satisfied with our progress in FY 2023. Frontline capacity increase and market opportunity is leading to robust business growth especially in mortgages, co-lending, construction finance and AIB. Slippages are declining and including restructured portfolio, the fresh slippages are almost at pre Covid-19 levels. Upgrades I recoveries have been strong and were equal to fresh slippages. Going forward, in a steady manner, we expect further improvement in profitability.

Meanwhile, the board of directors recommended a dividend of Rs 1.25per equity share, subject to requisite approvals.

Further, Satish Gundewar, chief financial officer (CFO) and key managerial personnel of the bank has tendered his resignation from the services of the bank to pursue his career outside the bank. Gundewar's last working day with the bank would be 3 June 2023.

The bank said that while the process of appointing CFO is likely to be completed in next few weeks, it has identified Ravi Kumar as “officer in charge” to take over from Gundewar from 4 June 2023 onwards.

DCB Bank is engaged in providing banking and financial services and governed by the Banking Regulation Act, 1949.

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DCB Bank announced that the Board of Directors of the Company at its meeting held on 5 May 2023, has recommended a Final dividend of Rs.1.25 per share (i.e.12.5%), subject to the approval of the shareholders.

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