Private sector lender Development Credit Bank (DCB) has posted a net loss of Rs 16.9 crore in the second quarter ended September 2009 as against a profit of Rs 10.01 crore in the corresponding quarter of 2008-09.
In the quarter ended June 2009, the bank had recorded a net loss of Rs 35.3 crore. It expects a turnaround in 6-9 months. Total income, comprising interest and other income, in the reporting quarter fell to Rs 145.74 crore from Rs 201.31 crore.
In line with its efforts to move away from price-sensitive bulk deposits, the bank increased its retail deposits to 82.4 per cent of total deposits. Current account & Savings account (CASA) deposits as a share of total deposits also steadily increased to 36.8 per cent as on September 30, 2009 from 30.9 per cent at end of March 2009. Its outstanding deposits stood at Rs 4,502.54 crore.
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