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Motilal Oswal Report
DCB Bank Ltd. reported a weak operating performance, impacted by higher interest reversals, even as provisions fell sequentially, which supported earnings.
Business growth continues to remain under pressure. The management guided for loan growth to remain subdued over the next few quarters due to the surge in Covid-19 cases and lockdowns in key states.
Asset quality deteriorated further, with a rise in gross non-performing asset/net non-performing asset ratio from pro forma levels in December-2020.
The gross restructuring book stood at 4.3% of loans (higher than peers).
Collection efficiency, which improved in March, has again gotten impacted in April. We thus remain watchful on asset quality.
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