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DCB posts Q1 results with Rs 9 cr Q1 profit

This article was posted on Jul 14, 2011 and is filed under Market News

Development Credit Bank (DCB) today reported a Rs 8.8 crore profit for the first quarter ended June 30 as against a net loss of Rs 2.9 crore in the year-ago period, driven by a surge in retail deposits and lower provisioning.

Provisions came down substantially in the reporting quarter and stood at Rs 7.7 crore as against Rs 25.5 crore in the April-June quarter last fiscal. Net advances grew to Rs 4,234.4 crore up from Rs 3,478.8 crore, the bank said in a statement issued here. For more visit: Business Standard

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