Financial Daily from THE HINDU group of publications
Thursday, May 04, 2006
Financial Daily from THE HINDU group of publications Thursday, May 04, 2006 |
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Money & Banking
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Credit Market DCB focus on retail advances Our Bureau
Chennai , May 3 Development Credit Bank's (DCB) advances book of Rs 2,800 crore is mostly made up of corporate advances. The bank wants to change this. "We have decided to focus on retail credit," Mr P.N. Vasudevan, Head - Consumer Banking Group, said on Wednesday. Speaking to journalists on the sidelines of a press conference here, Mr Vasudevan said that the bank was open to the idea of buying portfolio from other banks in order to grow its retail loan book. The bank is also trying to raise the number of branches — from 72 now to 100 in two years, but acquiring loan assets is seen as a faster way of growing. DCB has announced its initial public offering for raising Rs 300 crore. Post public-issue, the bank's capital adequacy ratio is likely to reach 12 per cent from 9 per cent now. The press conference was held to announce the launch of a current account product meant for traders.
More Stories on : Credit Market | Private Banks
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