Development Credit Bank
|Public company (BSE: 532772)|
|Headquarters||Mumbai, Maharashtra, India|
|Nasser Munjee, Chairman, Murali M. Natrajan (MD & CEO)|
Agri & Inclusive Banking
Home Loan & Loan Against Property (Mortgages)
|Revenue||6.48 billion (US$100 million)(2011)|
|Total equity||INR 2002 million|
Number of employees
|2,100 approximately (2010)|
DCB Bank Ltd.(Formerly Development Credit Bank Ltd.) is private sector scheduled commercial bank in India. It has a network of 152 branches and 290 ATMs in the country. It offers products to individuals, small and medium businesses, rural banking and mid corporates across its branch network.
The Bank is present in 17 states and 2 Union Territories. Metros having DCB Bank branches are Ahmedabad, Bengaluru, Bhopal, Bhubaneswar, Chennai, Delhi NCR, Gurgaon, Hyderabad, Indore, Jaipur, Kochi, Kolkata, Lucknow, Ludhiana, Mumbai, NOIDA, Pune and Vadodara. DCB Bank has dedicated rural banking branches for agri & inclusive banking in Andhra Pradesh, Chhattisgarh, Gujarat, Haryana, Madhya Pradesh, Maharashtra, Odisha, Rajasthan and Telengana.
States where DCB Bank branches are located: Andhra Pradesh, Chhattisgarh, Delhi NCR, Gujarat, Goa, Haryana, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Odisha, Punjab, Rajasthan, Tamil Nadu, Telengana, Uttar Pradesh & West Bengal.
DCB Bank recently inaugurated branches at Karnal in Haryana and Madlapur in Maharashtra.
The Aga Khan Fund for Economic Development (AKFED) in the promoter of the Bank with around 16.4% 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 31 May 1995.
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 . 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, telephone banking, Visa money transfer, foreign exchange remittance service amongst others.
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. DCB Bank Limited is the new name of the Bank, changed with due regulatory approval in January 2014.
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- "BSE Plus". Bseindia.com. Retrieved 16 March 2011.
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- "Development Credit Bank Ltd.". Rupee Times. 31 May 1995. Retrieved 16 March 2011.
- "Company History". economictimes.indiatimes.com. Retrieved 16 March 2011.