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DCB opens 3rd branch in Tamil Nadu

DCB Bank inaugurated its third branch in Tamil Nadu and aims to set up 20 more branches in the state in the next two years. The bank plans to increase its branches from 116 to 300 in the next two-three 3 years. M Natrajan, MD & CEO, DCB Bank Ltd said the newest branch at Minjur, Tamil Nadu reflects the bank’s intent to grow retail banking outside of major metros and reach new and emerging locations. The bank will focus on tier II to tier 6 cities, he said adding the target is 50-60% of the new branches should be beyond tier-II cities where population is less, wealth is created and people get more income. Having a diversified portfolio, the bank plans to double its balance sheet from Rs 12,000 crore to Rs 24,000 crore in the next 3 to 4 years.

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