Development Credit Bank
|Type||Public company (BSE: 532772)|
|Headquarters||Mumbai, Maharashtra, India|
|Key people||Nasser Munjee, Chairman, Murali M. Natrajan (MD & CEO)|
Agri & Inclusive Banking
Home Loan & Loan Against Property (Mortgages)
|Revenue||6.48 billion (US$110 million)(2011)|
|Total equity||INR 2002 million|
|Employees||2,100 approximately (2010)|
DCB Bank (Formerly Development Credit Bank Ltd.) is private sector scheduled commercial bank in India. It has a network of 130 branches and 236 ATMs in the country. It offers products to individuals, small and medium businesses, rural banking and corporates in selective regions. The Bank is present in 16 states and 2 Union Territories. Metros having DCB Bank branches are Ahmedabad, Bengaluru, Chennai, Delhi, Gurgaon, Hyderabad Kolkata, Mumbai and Pune. The Bank has dedicated rural banking branches in Andhra Pradesh, Chhattisgarh, Gujarat, Madhya Pradesh, Odisha and Rajasthan. 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. Branches in Rajasthan - Jaipur and Jodhpur. DCB Bank has recently inaugurated a branch at Minjur, Tamil Nadu. The Aga Khan Fund for Economic Development (AKFED) in the promoter of the Bank with around 18% 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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- "Development Credit Bank Ltd.". Rupee Times. 31 May 1995. Retrieved 16 March 2011.
- "Company History". economictimes.indiatimes.com. Retrieved 16 March 2011.