Development Credit Bank

DCB Bank (Development Credit Bank Limited)

Type	Public (BSE: 532772)
Industry	Banking Financial services
Headquarters	Mumbai, Maharashtra, India [1]
Key people	Nasser Munjee, Chairman,[2] Murali M. Natrajan (MD & CEO) [3]
Products	SME Banking Retail Banking Corporate Banking Agri & Inclusive Banking Wealth Management Home Loan & Loan Against Property (Mortgages) Credit Card
Revenue	648.36 crore (US$131.49 million)(2011)[4]
Total equity	INR 200.17 Crore
Employees	2,100 approximately (2010)
Website	Official Website

DCB Bank (Development Credit Bank Ltd.) (BSE: 532772) is private sector scheduled commercial bank in India. It has a network of 82 branches and 139 ATMs in the country.^[5] It offers value for money products to cater the needs of individuals, small and medium businesses, rural banking and corporates in selective regions. The Bank is present in 10 states and 2 Union Territories. Metros having DCB Bank branches are Bengaluru, Chennai, Delhi, Gurgaon, Hyderabad Kolkata, Mumbai and Pune. The Bank has dedicated rural banking branches at Dediapada, Mandvi & Netrang in the state of Gujarat. Other DCB Bank locations are; State of Gujarat - Ahmedabad, Ankleshwar, Bhuj, Daman (Union Territory), Gandhinagar, Rajkot, Sidhpur, Silvassa (Union Territory), Surat, Vapi and Vadodara. Branches in the state of Goa - Mapusa, Margao, Panjim and Vasco and a branch in Rajasthan state - Jodhpur. The Aga Khan Fund for Economic Development (AKFED) in the largest stakeholder in the Bank with around 23% stake. Public shareholding under the Resident Individual category is approximately 39.4%. The Bank received the Scheduled Commercial Bank licence from the Reserve Bank of India on May 31, 1995. ^[6]

DCB Bank's financial products and services range from loans for Small and medium enterprises, Wealth Management, banking for Non Resident Indians, Internet Banking, Mobile Banking, Business Finance, Home Loans .^[2] It also offers banking solutions for resident Indians such as savings account, current account, fixed deposit, recurring deposit, PayLess Credit Card, international Debit cum ATM card, insurance products and financial services like Electronic Funds Transfer (NEFT & RTGS), online Income Tax Payment, online Bill Payment for utilities, Card to Card Money Transfer, DCB On The Go - instant mobile banking, SMS banking, Phone Banking, Visa Money Transfer, foreign exchange remittance service amongst others.

History

Founded in the 1930s, in Mumbai from a series of Co-operative bank mergers with the Ismailia Co-operative Bank Limited and the Masalawala Co-operative Bank respectively. These 2 banks later merged to form Development Co-operative Bank, that changed to Development Credit Bank after it was granted the scheduled bank license by the Reserve Bank of India in May 1995. The Bank went on to successfully offer shares to the public by an Initial Public Offering (IPO) in 2006.^[7]

Reference

1. ^ "DCB | About DCB | Corporate Office". Dcbl.com. https://www.dcbl.com/about/corporate_office.html. Retrieved 2011-03-16. 
2. ^ ^{a b} "'Development Credit Bank planning a meaningful stake sale this year'". Business-standard.com. 2009-06-24. http://www.business-standard.com/india/news/%5Cdevelopment-credit-bank-planningmeaningful-stake-sale-this-year%5C/361925/. Retrieved 2011-03-16. 
3. ^ "Bank of Baroda, Development Credit Bank hike base rates - Money Matters". livemint.com. 2010-10-05. http://www.livemint.com/2010/10/05141312/Bank-of-Baroda-Development-Cr.html. Retrieved 2011-03-16. 
4. ^ "BSE Plus". Bseindia.com. http://www.bseindia.com/bseplus/StockReach/AdvanceStockReach.aspx?scripcode=532772. Retrieved 2011-03-16. 
5. ^ "Development Credit Bank eyeing Rs150 cr through QIP in H2, aims for profit in Q3 - Money - DNA". Dnaindia.com. 2010-04-18. http://www.dnaindia.com/money/report_development-credit-bank-eyeing-rs150-cr-through-qip-in-h2-aims-for-profit-in-q3_1372688. Retrieved 2011-03-16. 
6. ^ "Development Credit Bank Ltd.". Rupee Times. 1995-05-31. http://www.rupeetimes.com/banks/development_credit_bank_ltd.html. Retrieved 2011-03-16. 
7. ^ "Company History". economictimes.indiatimes.com. http://economictimes.indiatimes.com/development-credit-bank-ltd/infocompanyhistory/companyid-4940.cms. Retrieved 2011-03-16.