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Praveen Kutty, the new MD & CEO of DCB Bank, emphasized that the bank's core fundamentals remain unchanged despite his recent appointment. He highlighted the need for improved customer engagement and aims to reduce gross non-performing assets, currently at 3 percent. Additionally, the Aga Khan Fund for Economic Development plans to increase its stake in the bank by infusing $10 million, raising its ownership to over 15 percent.
DCB Bank's shares surged 10% to Rs 121 on October 25 following a robust Q2FY25 report, which showed a 22.6% year-on-year increase in net profit to Rs 155.5 crore. Net interest income rose 7% to Rs 509.2 crore, while asset quality improved with net non-performing assets at 1.17% and gross non-performing assets at 3.29%. CEO Praveen Kutty highlighted strong growth in deposits and advances, driven by enhanced analytics and customer engagement.
Praveen Kutty
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DCB Bank chief emphasizes customer engagement and reducing non-performing assets
09:19 25.11.2024
DCB Bank shares surge 10 percent after strong Q2FY25 profit results
09:51 25.10.2024
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