DEVELOPMENT CREDIT BANK LTD
Q1 FY 08 Results

HIGHLIGHTS

• Net Profit of Rs.5.74 crores in Q1 FY 08 as against Rs.4.34 crores for Q1 FY 07.
• Assets Growth at 35%.
• Advances at Rs.2887 crores. with a Growth of 50 % over Q1 FY 07.
• Retail advances stood at Rs.1318 crores showing 69% growth over Q1 FY 07.
• Deposits at Rs. 4766 crores with a Growth of 33% over Q1 FY 07 .
• Gross NPAs reduced to Rs.151 crores from Rs.314 crores as at June 2006.
• Net NPAs reduced to 1.6 % from 4.1% in June 2006
• Net NPAs (With Standard Assets Provision) reduced to 0.8% as against 3.7% as at June 2006.
• Capital Adequacy Ratio up at 10.5 % from 9.4% in June 2006.
• Book Value per Share up at Rs.20.59 from Rs.18.86 at June 2006.
• Adjusted Book Value per Share up at Rs.17.53 from Rs.8.62 at June 2006.
  

Business Update

• Continued Focus on Priority Sector Advances –PSA as at June 30, 2007 stood at Rs.1147 crores constituting 41.5% of Net Bank Credit.
• Launched Mix-N-Match,a product that offers systematic reinvestment facility through a combination of Recurring FDs and traditional SIPs in equity mutual funds.
• Launched Online trading portal called DCB Smart Trade, offering a full suite of capital market products.
• New Student Account X-Gen launched.
• Bank is making a foray into Micro Finance.
• Increase in Category ‘B‘ Branches from 40 to 56 facilitating Retail Forex Business.
• New Head-Consumer Banking, Mr.Pravin Kutty, has joined from Citibank, New York. He brings with him over 16 years of banking experience.
  

Summary Results & Prior Period Comparison

Profitability Analysis

• Net Profit up 32% YOY.
• Net Interest Income up 40% YOY.
• Non Interest Income increased 38% YOY .
• Total Income increased 40% YOY .

Summarised Balance Sheet & Prior Period Comparison

Major Trends

• 33% growth in Deposits YOY.
• 50.% growth in Advances YOY.
• Balance Sheet Growth by 35% in Q1 FY08 over Q1 FY 07.

Capital Raising

• Proposed Preferential Allotment upto Rs.308.5 crores subject to AGM and RBI approval.