Private sector lender DCB Bank today reported a 3 per cent decline in its net profit at Rs 41 crore for the quarter ended December.
The bank had reported a profit after tax of Rs 43 crore in the same period last year.
In the quarter, its net interest margin stood at 3.96 per cent as against 3.70 per cent earlier.
Its net interest income grew by 32 per cent to Rs 160 crore as against Rs 122 crore last year.
"We plan to double our balance sheet size in the next three to four years, as we are focusing on retail and small and medium enterprise (SME) lending," the bank's Managing Director and CEO Murali M Natrajan said.
Its gross NPA stood at 1.98 per cent and net NPA at 1.12 per cent.
Capital adequacy ratio (CAR) was at 13.04 per cent as on December 31, with tier-I capital at 12.33 per cent and tier-II at 0.71 per cent, as per Basel III norms.
Net advances, including corporate banking, grew 24 per cent to Rs 11,736 crore from Rs 9,491 crore last year. Its deposits grew by 19 per cent to Rs 14,084 crore.
"We are eyeing 20-22 per cent compounded growth in the advances book and look to double our balance sheet from the current levels," Natrajan said.
Its branch network increased to 176 branches in 115 locations along with 397 ATMs as on December 31.
The bank also plans to set up 150 additional branches within 24 months.
It has also rolled out a revamped digital offering (internet and mobile banking) to further ease transactions for customers.
The bank has recently partnered with M2P, a digital payment solutions company, to offer 'YAP' digital payment suite targeting businesses going digital and looking to adopt bank-grade solutions.
