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DCB Bank Q1: Profit Jumps 36% To Rs 213 Crore As Asset Quality Improves, Provisions Fall

DCB Bank Ltd. reported a 35.5% year-on-year rise in first-quarter net profit as lower provisions and improving asset quality offset pressure on margins. The private lender posted a net profit of Rs 213 crore for the quarter ended June 30, compared with Rs 157 crore a year earlier, according to an exchange filing on Friday. Net interest income rose 17.7% to Rs 684 crore from Rs 581 crore in the corresponding quarter last year. Asset quality improved sequentially, with the gross non-performing asset ratio easing to 2.43% from 2.45% at the end of March, while the net NPA ratio declined to 0.84% from 0.89%. ALSO READ:  DCB Bank Q4 Results: Net Profit Jumps 16% To Rs 206 Crore; Dividend Declared Provisions more than halved to Rs 57 crore from Rs 115 crore a year ago and fell from Rs 69 crore in the preceding quarter, supporting earnings growth. The bank said advances grew 17% year-on-year, while deposits increased 20%, reflecting continued business momentum. Capital adequacy r...

"India Tries To Ensure Ties Across The World, Except With...": S Jaishankar

Foreign minister S Jaishankar has said each of India's engagements has its own particular weight and focus, be it with United States, Europe, Russia or Japan, India is trying to ensure that all ties advance without seeking exclusivity. China, however, falls into a different category, Mr Jaishankar said in his address at the MIREX, the Ministry of Foreign Affairs of the Dominican Republic, where he was on a visit from April 27 to 29.

At the Ministry of Foreign Affairs of the Dominican Republic, Mr Jaishankar said: "For the first time in 2015, Prime Minister Narendra Modi articulated a comprehensive view that spanned the entirety of the Indian Ocean and its Islands. These subsequently became the building blocks for the Indo-Pacific vision that emerged thereafter. To the north, India has been similarly pursuing a strategy of connecting to Central Asia more effectively and this has taken the form of structured engagements across multiple domains".

"These concentric circles of priority give you a conceptual sense of Indian diplomacy and one that we have pursued very assiduously over the last decade. But at a higher level, we are also practising the approach of engaging all significant centres of power, such multi-alignment reflects the reality of multi-polarity," he added.

Mr Jaishankar said each engagement has its own particular weight and focus.

"Whether it is the United States, Europe, Russia or Japan, we are trying to ensure that all ties, all these ties advance without seeking exclusivity," Jaishankar said without mentioning China.

But further, Mr Jaishankar added, "China falls into a somewhat different category because of the boundary dispute and the currently abnormal nature of our ties".

Making India's stand clear about China's activities at the Line of Actual Control, Mr Jaishankar said that is "an outcome of a violation of agreements regarding border management by them".

"The rise of China and India in a parallel time frame is also not without its competitive aspects," he added.

The minister said India's most pressing priorities are obviously in its neighbourhood. Given India's size and economic strength, it is very much for the collective benefit that India takes a generous and non-reciprocal approach to cooperation with smaller neighbours.

"And that's exactly what we have done in the last decade under Prime Minister Modi and this in our region has come to be known as the Neighborhood First Policy," Mr Jaishankar said.

India has seen a dramatic expansion in connectivity, contacts, in cooperation across the region.

"The exception to this of course is Pakistan in view of the cross-border terrorism that it supports. But whether it is the Covid challenge or more recent debt pressures, India has always stepped up for its neighbours," Mr Jaishankar said.

India has extended more than USD 4 billion of notable economic support to Sri Lanka.

"Beyond South Asia, India is developing the concept of extended neighbourhoods, extended neighbourhoods in all directions, with the ASEAN this has taken the form of what we call the Act East Policy, which has opened up a pathway to a deeper engagement with the Indo-Pacific that is being pursued amongst others, through a mechanism called the Quad," Mr Jaishankar said on the expansion of India's ties.

He also said towards the West, there has been a perceptible "intensification" of India's relationship with the Gulf and the Middle East. One reflection of that is a new grouping called I2U2, comprising India, Israel, UAE and the USA. These two regions on either side have emerged as major trade and investment hubs for India, he added.

About 8 million Indians live and work in the Gulf but the relationship is much more than economic, it encompasses security, technology and strong people-to-people ties. To the South, the outlook that shapes India's thinking goes by the acronym of SAGAR, which is an Indian word for oceans.



from NDTV News- Special https://ift.tt/2HCEVYk

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