DCB Bank posts 38 per cent rise in net profit

July 14 (UPI) -- JPMorgan Chase & Co. reported a massive fiscal year profit of more than $26 billion on Friday -- the largest ever posted by a U.S. bank. JPMorgan lowered its outlook for loan growth and interest income for the second half of 2017, though. Despite the Washington gridlock, JPMorgan Chase performed well, CEO Jamie Dimon said, in a period of what he termed "lower volatility and client activity." However, its profit from fixed income and equity trading fell 14 percent in the second quarter of 2017, the report said, to $4.8 billion. The institution reported $26.5 billion in profit over the last 12 months.


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DCB Bank posts 38 per cent rise in net profit

The rise in net profit comes along with a rise in provisions made by the bank against loans that could go bad. MUMBAI: Private sector lender DCB Bank reported a 38% rise in net profit for the first quarter of this year amidst a slight worsening of the quality of assets held by the bank.In a filing to the stock exchanges, the bank reported a net profit of Rs 65 crore against Rs 47 crore last year. Provisions have gone up to Rs 35 crore against Rs 20.5 crore a year earlier.The net interest income or the income generated from loans forwarded by the bank rose to Rs 233 crore against Rs 177 crore last year, a 31% jump.The ratio of non-performing assets or loans for which repayment has not happened on time against total advances remained almost flat at 0.92% against 0.87% a year earlier.In a statement to the media, the bank's chief executive officer, Murali Natarajan said that the bank has almost completed its branch expansion plans and will continue to remain careful about balancing growth with asset quality.In a separate filing to the exchanges the bank also notified that its board has appointed Iqbal Ishaq Khan as an additional director and has accepted the resignation of Keki Elavia from the directorship of the bank.




MANGALURU: Karnataka Bank Ltd has posted net profit of Rs 133.85 crore in Q1 of FY '17-18, a growth rate of 10.13% compared to Rs 121.54 crore during Q1 of 2016-17. Operating profit has increased from Rs 261.92 crore to Rs 309.70 crore showing a growth rate of 18.24 %. Net NPAs stood at Rs 1,230 crore at the end of Q1 constituting 3.20% of net advances. Gross NPAs stood at Rs 1,691 crore at the end of Q1 constituting 4.34 % of gross advances. Going forward, bank will give more thrust on CASA deposits, NPA management, credit expansion, fee based income and digital banking.


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