DCB Bank aims to open 300 branches in next 2-3 years

Chennai: DCB Bank plans to launch 300 branches across the country in the next two to three years, a top official said today.

Inauguration the bank's third branch in Tamil Nadu, its Managing Director and CEO Murali M Natarajan said plans are on to launch 30-40 branches per year and reach 300 in another two to three years. The bank presently has 116 branches across the country.

 DCB Bank aims to open 300 branches in next 2-3 years

DCB Bank logo taken from moneycontrol.com

Having a sizeable presence in Northern and Western India, the bank's expansion plans would cover Tamil Nadu, Gujarat, Maharashtra, Andhra Pradesh and Odisha, with an aim to start 20 branches in Tamil Nadu alone, he said.

While the bank's book-size is approximately Rs 12,000 crore, "we intend to double it in three years to Rs 24,000 crore," he told reporters here.

Asked about the bank's NPA, he said the "trend has been quite good for us," adding that net NPA was 0.77 percent while gross NPA was 2.77 percent in the third quarter of this financial year.

The bank is steadily expanding presence in tier II and VI towns and the opening of the branch at Minjur, located outside the city, "reflects our intent to grow retail banking outside of major metros," he added.

PTI

Updated Date: Jan 22, 2014 16:45:01 IST