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DCB Bank, TVS Credit Services in tie-up

DCB Bank has tied up with TVS Credit Services, a part of TVS Group with the intention of offering car loans initially and other retail loans and other banking products subsequently. This tie-up is expected to generate steady fee income for the company and will augment the normal interest income from existing lines of business. This business alliance is expected to help the bank build a quality loan book using the vast experience and expertise of TVS Credit Services, which is present in 16 states with 100 plus offices and 3,000 plus points of presence. Praveen Kutty, head, Retail and SME Banking of the bank, said the alliance is basically a dovetailing of interest of two entities. While the bank has a branch network of 160, it has a small presence in south India. Through this multi-product alliance, it would be able to leverage TVS’s reach and customer base in Tamil Nadu, Karnataka, Telangana and Andhra Pradhesh, he added.

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