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BUSINESS

Demonetization effects are wearing off for DCB

DCB MD and CEO Murali Natarajan gave updates to CNBC-TV 18. DCF is recovering from the demonetization effects.

December quarter interest income rose by 24% making it Rs51 Crores and net interest rose by  31% summing to Rs 209 crore. Non interest income for December quarter is Rs 64 Crore (was up by Rs 36 crore).

CASA growth jumped to 400 basis points, thanks to demonetization that lead people to deposit their Rs 500 and Rs 1000 notes in their account. This will give 6-9 months of head start. This number increased to 25.85% from 21.91%, 3 months ago.

Bad news – loans growth is on hold due to cash restrictions, but this too will seen growth very soon.

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Demonetization effects are wearing off for DCB
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