Wednesday, 17 July 2019

DCB Bank Shares Plunged 14 Percent Intraday After Lender Reported Dismal

DCB Bank shares plunged 14 percent intraday after lender reported dismal set of earnings for quarter ended June 2019.

Profit during the quarter grew by 17 percent to Rs 81.1 crore and net interest income increased 11.7 percent to Rs 304.8 crore compared to year-ago period.

A CNBC-TV18 poll estimates for profit were Rs 93.7 crore and net interest income Rs 313.6 crore for the quarter.

Fall in credit growth, elevated provisions and weak asset quality with rising slippages hit earnings in June quarter.

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