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ICICI Securities Report
DCB Bank Ltd.'s Q2 FY22 earnings at Rs 649 million (up 92% quarter-on-quarter) was primarily driven by lower provision at Rs 0.86 billion versus Rs 1.6 billion in Q1 FY22 and strong NII growth of 5% quarter-on-quarter.
While fresh slippages remained elevated at Rs 4.2 billion (6.2% annualised), improved business sentiment led to higher recoveries / upgrades at ~Rs 4 billion resulting in GNPL improvement to 4.68% vs 4.87% in Q1 FY22.
NNPL stands at 2.6% with PCR at 45%.
Total vulnerable pool (GNPL 4.7% + restructured book 6.8% + ECLGS 3.8%) is at 15% and total provision (ex standard assets) at 3.5% as of September 2021.
Collections continued to show improvement with CE in LAP / HL at 96% / 98% respectively as of September 2021.
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