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New Delhi, Jun 11 () Private sector lender DCB Bank on Thursday said it plans to raise up to Rs 500 crore through equity or other instruments. The decision was taken at the bank's board meeting on Thursday to approve the notice of the 25th annual general meeting that included considering a fundraising proposal. The meeting, it said, considered enabling resolution for proposing raising of funds up to Rs 500 crore by way of issue of equity shares and other securities convertible into equity shares through qualified institutional placement, as may be required by the bank from time to time, DCB Bank said in a regulatory filing. The fundraising is subject to necessary permissions and approvals, including shareholders' approval and such other statutory approvals as may be required, and the provisions of applicable law, it added. DCB Bank's shares on Thursday closed 1.57 per cent higher at Rs 74.55 apiece on the BSE. KPM HRS

DCB Bank plans to raise up to Rs 500 cr

New Delhi, Apr 16 () DCB Bank has witnessed significant jump in its foreign remittance services on the coronavirus outbreak, specially for education purposes, as parents want to ensure their children abroad have sufficient money to sustain themselves in situation of a lockdown. "Since March 15, our volumes on outward remittance services have increased many fold. There is a significant difference in before-and-after demand since mid of March," said Praveen Kutty, Head of Retail and SME Banking, DCB Bank without quantifying the increase in demand.Kutty said the bank has been getting large number of calls from resident Indians as to how they can send money to their children studying abroad, for immigrant Indians and for medical emergencies, among others."There are people whose children are stuck in various places and flying back is not an option. Parents are really worried and want to ensure that at least economically they have means to keep going...That is where DCB Remit comes in," he said in an interaction.Kutty said one need not to be a DCB customer to send money abroad, the person can avail the remittance service by logging into www.dcbremit.com. One can use the DCB Remit platform by transferring funds from savings bank account in another bank anywhere in India to a specified DCB Bank account. However, one needs to activate the fund transfer by using the net banking facility from existing account."Once the indicative exchange rate is put forth, the customer can transfer the funds from any account to DCB Bank's account. The funds will then be transferred to the beneficiary account abroad latest by the next business day," the official added. DCB Bank offers this service for as many as 22 countries including the US, the UK, Australia, Singapore, Canada, the UAE and the Eurozone.This facility can be availed of in seven currencies - the US, Australian, Canadian and Singapore Dollar, British Pound, Euro and UAE Dirham.Money can also be transferred abroad for health purposes and payment of hostel fees by Indian students abroad, family maintenance, business travel, gifting, visa fees and private visits, Kutty added.The limit for overseas fund transfer via DCB Remit is USD 25,000 and/or equivalent in other permitted currencies per financial year, subject to the purpose available on DCB Remit platform.The bank said it has been offering the services, which was launched nearly one and half years back, with a zero cost for a limited time promotion. KPM KPM ANUANU

DCB Bank sees significant jump in foreign remittance services on coronavirus pandemic

New Delhi, May 23 () DCB Bank on Saturday reported a 28 per cent decline in net profit at Rs 69 crore for the March quarter, impacted by the coronavirus crisis. The private sector lender had posted a net profit of Rs 96 crore in the same period of 2018-19. Income during the January-March quarter of FY20 rose by 8.5 per cent to Rs 434 crore, as against Rs 400 crore in the same period of the preceding fiscal, DCB Bank said in a release. The bank's profit after tax in FY20 stood at Rs 338 crore, up 4 per cent from Rs 325 crore in 2018-19. Income during the year grew 10.5 per cent to Rs 1,656 crore as against Rs 1,499 crore in the preceding fiscal. "Both FY 2020 and Q4 2020 Profit Before Tax was impacted by Rs 63 crore Covid-19 Regulatory Package Provision. The bank conservatively made more provision than required as per guidelines," it said. The bank's asset quality weakened, with gross non-performing assets (NPAs) or bad loans rising to 2.46 per cent of gross advances as on March 31, 2020, from 1.84 per cent in the corresponding quarter of the previous fiscal. Likewise, net NPA ratio rose to 1.16 per cent from 0.65 per cent. DCB Bank's Managing Director and CEO Murali M Natrajan said, "Our main aim in the next two quarters would be to carefully navigate through the difficult and uncertain environment focusing on handling potential portfolio stress, assisting loan customers within regulatory guidelines, effect cost reduction and maintain adequate liquidity." He said the bank is of the view that the second moratorium relief announced by the RBI has come at the right time. "... because lock-down restrictions are being reduced so cash flows in the economy should start to pick up enabling customers to service their loan obligations more easily post the moratorium period," Natrajan added. KPM ABM ABM

DCB Bank Q4 net slips 28 pc to Rs 69 cr

New Delhi, Mar 24 () DCB Bank on Tuesday announced CSR spending worth Rs 1 crore in the next three months for intervention and measures to contain the outbreak of Covid-19 in the country. The announcement comes a day after the government allowed companies to use corporate social responsibility (CSR) funds for tackling the disease. "The bank will engage with various agencies and partners to manage the response to Covid-19 in India. It aims to deploy this fund within the next three months," DCB Bank said in a statement. DCB Bank remains committed to its CSR initiative for the overall betterment of Indian society and its people. LUX ANSANS

Covid-19: DCB Bank to spend Rs 1 crore CSR funds next 3 months

New Delhi, Jan 25 () Private sector lender DCB Bank on Saturday reported an increase of 12.31 per cent in its net profit at Rs 96.70 crore for the third quarter ended December 2019.
Its net profit was Rs 86.10 crore in the October-December period a year ago, DCB Bank said in a BSE filing.
DCB Bank's total income was up 13.66 per cent at Rs 990.89 crore during the quarter under review as against Rs 871.78 crore in the corresponding period a year ago.
Net interest income increased 9.86 per cent to Rs 323 crore as against Rs 294 crore for the same period last fiscal year.
While non-interest income marginally declined to Rs 93 crore against Rs 94 crore. KRH


 MKJ

DCB Bank Q3 net profit up 12.3% at Rs 96.70 crore

<keyword id="696658" type="COMPANY" weightage="20" keywordseo="DCB-Bank">DCB Bank</keyword> Limited has appointed Atal Agarwal as the executive vice-president and head of corporate banking, financial institutions and investment banking. Agarwal will take charge in his new position from December 1, 2014. 
	 Prior to DCB Bank, Agarwal had served as managing director and group head of corporate and financial institution verticals at The <keyword id="65497" type="CITY" weightage="20" keywordseo="Royal-Bank-of-Scotland">Royal Bank of Scotland</keyword>. He has nearly 30 years of experience and has also worked as the vice-president of investment banking vertical at <keyword id="141193" type="CITY" weightage="20" keywordseo="DSP-Merrill-Lynch">DSP Merrill Lynch</keyword> followed by his stint as the director of Financial Institutions Group at <keyword id="6400347" type="COMPANY" weightage="20" keywordseo="CitiBank">Citibank</keyword>. 
	 
	Commenting on his appointment, Murali M Natrajan, managing director and CEO of DCB Bank said, “Our aim is to double our balance sheet in the next 36 to 42 months. Corporate Banking and Financial Institution business is an integral part of our growth strategy. At present, corporate banking contributes approximately 25% of our Advances and we can expect this to grow steadily at 20% to 25% annually”. 
	 
	Currently, DCB Bank business segment include retail, micro-SMEs, SMEs, mid corporate microfinance institutions, agriculture, commodities, government, public sector, Indian banks, Cooperative banks and Non Banking Finance Companies.

DCB Bank Appoints
Former RBS India Vertical Head Atal Agarwal As EVP

New Delhi, Apr 17 () Banking and financial stocks were in high demand on Friday, advancing up to 21 per cent after the Reserve Bank announced a host of liquidity-boosting measures to support the economy amid the coronavirus crisis. Axis Bank zoomed 13.45 per cent, ICICI Bank rose by 9.89 per cent, IndusInd Bank 9.13 per cent, Federal Bank 9 per cent, City Union Bank 5.39 per cent and Kotak Mahindra Bank 4.96 per cent on the BSE. Axis Bank was the top gainer in the Sensex pack. Also, HDFC Bank jumped 3.33 per cent, RBL Bank 3.22 per cent and SBI 2.49 per cent. Led by the rally in these scrips, the BSE Bank index rose by 6.83 per cent. Likewise, from the finance pack, Equitas Holdings zoomed 21.15 per cent, Shriram Transport Finance Company 20 per cent, J&amp;K Bank 19.95 per cent, Indiabulls Housing Finance 17.61 per cent, Dhanlaxmi Bank 17.51 per cent, DCB Bank 16.54 per cent, Ujjivan Financial Services 14.54 per cent and Cholamandalam Investment and Finance Company 11.33 per cent. The BSE Finance index gained 5.44 per cent. "Given the unprecedented times we are in, it is heartening that RBI is addressing all these challenges at a war footing. We believe the key measures announced by RBI will help inject the much needed liquidity in the system, facilitate and incentivise credit flow and provide flexibility on regulatory forbearance. Markets are in buying zone," according to Motilal Oswal, MD and CEO of Motilal Oswal Financial Services. In the broader market, the 30-share BSE Sensex ended 986.11 points or 3.22 per cent higher at 31,588.72. "The RBI's announcement has correctly focused on the financial sector, specifically the NBFCs. However, given the current macro conditions, we need to watch how the banks utilize the various windows and options given by the RBI to assess whether credit growth increases and the extent of support that the NBFC sector gets," said Suvodeep Rakshit, Vice President and Senior Economist, Kotak Institutional Equities. The RBI on Friday further eased bad-loan rules, froze dividend payment by lenders and pushed banks to lend more by cutting the reverse repo rate by 25 basis points, as it unveiled the second set of measures to support the economy hit hard by the coronavirus-led slowdown. In his second televised address since the nationwide lockdown began from March 25, the Reserve Bank of India (RBI) Governor Shaktikanta Das pledged to boost liquidity and expand bank credit. Other interest rate-sensitive indices like auto and realty also closed with significant gains. "NBFCs are clear beneficiaries of these measures. For investors in banks, the provision of higher liquidity and relaxation in provisioning norms are welcome, but the bar on dividend distribution and new provisioning norms are negatives for the time being. "While the RBI is doing its part in providing reliefs in the current times, the street could keep expecting more and there could also be some concern about the time it would take for these measures to have an impact at the ground level," said Deepak Jasani - Head Retail Research, HDFC Securities. SUM ABMABM

Banking, financial stocks zoom up to 21 pc after RBI lift

<ul><li><keyword id="6354512" type="ORGANIZATION" weightage="100" keywordseo="Infosys">Infosys</keyword> creates, tests blockchain-based document-tracking system.</li><li>Solution named India Trade Connect will help banks track trade documents digitally. </li><li>Seven Indian private banks including Axis Bank, Yes Bank and <keyword id="6653" type="ORGANIZATION" weightage="20" keywordseo="ICICI-bank">ICICI Bank</keyword> are implementing India Trade Connect.</li></ul> Infosys, one of the software giants in the country, has <a href="https://timesofindia.indiatimes.com/business/india-business/to-avoid-pnb-like-fraud-infosys-sets-up-blockchain-based-network-with-banks/articleshow/64190646.cms" data-type="tilCustomLink">set up</a> a blockchain-based document-tracking system for trade finance and is currently testing it. The solution named India Trade Connect aims to increase the security and efficiency of the banking sector and now has seven Indian private banks – ICICI Bank, Axis Bank, Yes Bank, IndusInd Bank, Kotak Mahindra Bank, RBL Bank and South Indian Bank – on board. At the heart of the Rs 1,400 crore (approximate) <a href="https://www.businessinsider.in/how-one-fraudster-drove-punjab-national-bank-to-the-highest-quarterly-loss-in-the-history-of-indian-banking/articleshow/64187005.cms" data-type="tilCustomLink">Nirav Modi-Mehul Choksi scam</a>, where three jewellery firms defrauded India’s second biggest state-run lender <keyword id="62034" type="ORGANIZATION" weightage="20" keywordseo="Punjab-National-Bank">Punjab National Bank</keyword> scam, is lack of transparency and accountability. The blockchain-based trade finance network will make the transactions more transparent for all stakeholders in any undertaking. The solution, earlier called <a href="https://www.prnewswire.com/news-releases/infosys-finacle-pioneers-blockchain-based-trade-network-in-india-in-consortium-with-seven-leading-banks-682801371.html" data-type="tilCustomLink">Finacle Trade Connect</a>, and now rechristened as India Trade Connect, will allow the document-heavy, process-heavy trade financing to happen digitally. How does a <keyword id="6355684" type="PERSON" weightage="20" keywordseo="Blockchain">blockchain</keyword> network function? India Trade Connect will help digitise the various processes in trade financing, including validation of ownership, certifying documents, making payments, collection of bills, and producing letters of credit and even invoice financing. <keyword id="6357624" type="UNKNOWN" weightage="20" keywordseo="blockchain-technology">Blockchain technology</keyword> stores details of every transaction securely shared between all the parties involved, say for instance, a buyer, the buyer’s bank, a seller and the seller’s bank. This is more efficient than each bank working on its own. In an interview with the <a href="https://economictimes.indiatimes.com/tech/ites/infosys-creates-blockchain-solutions-for-trade-finance/articleshow/64199469.cms" data-type="tilCustomLink">Economic Times</a>, Sanat Rao, chief business officer at <keyword id="1658904" type="ORGANIZATION" weightage="20" keywordseo="Infosys-Finacle">Infosys Finacle</keyword>, said, “Because of the network effect, where a buyer, the buyer’s bank, the seller and the seller’s bank are all on the platform, it creates a single source of truth. Banking and blockchain Earlier this week, on May 14, HSBC Holdings <a href="https://www.reuters.com/article/us-hsbc-blockchain/hsbc-says-performs-first-trade-finance-transaction-using-blockchain-idUSKCN1IF01X" data-type="tilCustomLink">claimed</a> it had performed the world’s first trade finance transaction on a shared blockchain platform. Prior to this, no trades used a single, shared digital application. This is not the first time that Indian banks have attempted to integrate blockchain into their systems. In June last year, ICICI Bank, DCB Bank, and Deutsche Bank, to name a few stakeholders, <a href="https://www.ethnews.com/indian-banks-partner-with-microsoft-for-blockchain-banking-platform" data-type="tilCustomLink">partnered</a> with <keyword id="10387" type="ORGANIZATION" weightage="20" keywordseo="Microsoft">Microsoft</keyword> to develop blockchain platforms for the Indian banking sector. It was called BankChain. Blockchain <a href="https://www2.deloitte.com/in/en/pages/strategy/articles/blockchain-in-banking.html" data-type="tilCustomLink">started off</a> being a giant, decentralised ledger for bitcoin (digital currency) that records every transaction and stores information about it on a global network. This data is highly secure and cannot be tampered with. Banks and other financial institutions back and invest in blockchain technology because it cuts their costs and makes operations faster, transparent and automated. “The framework of India Connect is said to be ledger agnostic and capable of working with other blockchain platforms like Bitcoin, Hyperledger, Ethereum and Corda,” Rao said.

Indian software giant Infosys sets up a blockchain trade network with 7 banks

Kolkata, Mar 5 () Niyo Bharat, a fintechplatform which facilitates opening of zero balance salaryaccounts for blue-collar workers, is targetting a customerbase of 50 lakh across the country in the next two years, anofficial said on Thursday.Presently, it has 15 lakh customers and tied up withYes Bank and DCB Bank for opening salary accounts, he said."We are now targetting the blue-collar workers of WestBengal for which Niyo has tied up with 59 corporates oremployers in the state. We will help these employers opensalary accounts for their workers with either of the twobanks," Niyo Bharat's business head Darpan Sharma toldreporters here.He said the company offers prepaid cards, co-brandedwith both the banks, to the account holders, for bankingtransactions.Sharma said the account holders would also be able tocarry out financial transactions including payment of billsand availing small ticket loans through the Niyo Bharat appwhich is available in 10 languages.The typical salary bracket for the targetted bluecollar workers is Rs 8,000 to Rs 12,000 per month, he said.Owned by Finnew Solutions Private Ltd, Niyo Bharatcharges Rs 200 annually for each prepaid card holder, he said.Sharma said the other business vertical of the companyis Niyo Global Card, which is a rupee-denominated travel cardfor those going overseas.The present customer base of Niyo Global Card is twolakh, which is expected to reach 10 lakh in two years, headded. DC BDCNN NN

You Searched For "DCB Bank" and got 9 results

DCB Bank plans to raise up to Rs 500 cr

PTI

DCB Bank sees significant jump in foreign remittance services on coronavirus pandemic

PTI

DCB Bank Q4 net slips 28 pc to Rs 69 cr

PTI

Covid-19: DCB Bank to spend Rs 1 crore CSR funds next 3 months

PTI

DCB Bank Q3 net profit up 12.3% at Rs 96.70 crore

PTI

DCB Bank Appoints Former RBS India Vertical Head Atal Agarwal As EVP

Purba Das

Banking, financial stocks zoom up to 21 pc after RBI lift

PTI

Indian software giant Infosys sets up a blockchain trade network with 7 banks

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Niyo Bharat aims at 50 lakh customer base in two years

PTI

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