DCB Bank launches its 400th branch, the 21st branch in Delhi NCR; Stock gains ~2%

6 Apr 2022 , 11:46 AM

DCB Bank has opened its 400th branch. The branch is in the bustling marketplace of Delhi – Azadpur Mandi. It marks the Bank’s 21st branch in Delhi NCR. The location fits in very well with the Bank’s strategy of focusing on MSME/ SME, Small Businesses and Small Traders.

The Branch was inaugurated by the Bank’s Chairperson, Rupa Devi Singh. The branch will be an integral part of financial inclusion initiatives especially for small traders. The branch will inter alia offer secured loans, Current Account, Savings Account, Gold Loans and Working Capital facilities, said DCB Bank in a regulatory filing.

Speaking on the important milestone Ms. Rupa Devi Singh, Chairperson said, “I am delighted to be a part of this wonderful occasion. The Bank has steadily grown its footprint across India including Delhi National Capital Region. We have been serving the needs of MSMEs/ SMEs and small businesses, and Delhi NCR presents an opportunity to grow the Bank’s assets and liabilities franchise.

In keeping with our endeavour, the Azadpur Mandi branch will strive to provide superior banking convenience at the branch and with digital solutions, for our customers.”

Murali M Natrajan, MD & CEO said, “Covid 19 disruptions and lockdowns somewhat slowed down our branch expansion. In the last two quarters, we managed to catch up on the pace of new branch roll out. Our aim is to open 25 to 35 new branches in the next 12 to 18 months. Delhi NCR is and will continue to be a major of our branch expansion plans”.

On  Wednesday at around 11:48 AM, DCB Bank was trading at Rs77.90 apiece up by Rs1.3 or 1.7% on Sensex.