The bank's profit after tax (PAT) for Q4 FY24 came at Rs 156 crore, up 9 per cent from Rs 142 crore in the year-ago period. For FY24, PAT was at Rs 536 crore, registering a growth of 15 per cent compared to Rs 466 crore in FY23.
Shares of DCB Bank fell over 6 percent on Thursday after the lender witnessed a decline in its net interest margin (NIM) for the quarter ended December (Q3FY24). Its NIM for Q3FY24 declined sharply 21 bps QoQ to 3.48 percent.
The Reserve Bank of India has granted its approval to Tata Asset Management Company (AMC) to increase stake in the private sector lender up to 7.5 per cent.
DCB Bank was last trading 0.22 per cent lower at Rs 92.35 on the BSE
Share price of DCB Bank edged marginally lower on Thursday, April 22, a day after the private bank announced that it acquired a minority equity stake of around nine per cent in a fintech NBFC Techfino Capital Limited. On Thursday, DCB bank opened at Rs 92.55, touching an intra day high of Rs 92.55 and an intra day low of Rs 90.55, in the trading session so far. According to a statement shared by the new generation private sector bank, Techfino Capital uses a technology platform to offer customised consumer loans in the healthcare and education sectors. (Alson Read: DCB Bank Acquires 9% Stake In Non-Banking Financial Company Techfino Capital