DCB Bank posts 22% jump in net profit

DCB Bank posts 22% jump in net profit

Nifty 50-share index fell 0.35% to 10,199 points.

Other banks also fell.

"Net interest margin for Q2FY18 stood at 3.45 per cent. NII for H1FY18 too rose one per cent YOY (year-on-year) to Rs 9,156 crore from Rs 9,031 crore in H1FY17", the banking major said in a statement. At the same time, the net NPA also inched up to 3.12% as against 2.02% in the same quarter of the previous fiscal.

It, however, reported a spurt in retail and agriculture loans slipping into the non-performing assets category due to a slowdown and expectations of farm loan waivers.

Israel advances plans for 1292 West Bank settler homes: NGO
President Donald Trump is more sympathetic to Israeli settlements there than the global community, which considers them illegal. Several hundred Israeli settlers live in the heart of Hebron under heavy military guard among some 200,000 Palestinians.

On a quarter-on-quarter basis the private lender's net profit plunged 67 percent from Rs 1,306 crore in the quarter ended June, the company said in a filing on the BSE.

Gross bad loans ratio improved to 2.39 per cent. Gross slippages or good assets turning bad, in the quarter rose significantly to Rs 8,936 crore, of which Rs 8,110 crore was in the corporate sector. "Critically, slippage was not from up-fronting of stress from the watch-list, but due to divergence (pertaining to RBI's annual inspection) and higher non watch-list slippages", said Edelweiss Securities Ltd in a note.

After the quarterly numbers brokerage house Motilal Oswal cut FY18/19E earnings by 17 per cent and 21 per cent for Axis Bank, and believed that earnings normalization for the bank has now been pushed back. Jefferies has slashed the target price on stock to Rs 635 from Rs 675, although, maintaining a "buy" rating, while Morgan Stanley lowered its target price to Rs 480 from Rs 550 with an "equal-weight" rating. According to Thomson Reuters Eikon data 19 out of 48 analysts covering the stock rate it at "buy", 16 have "hold", while 13 have a "sell" rating.

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