The company was incepted in 1930 and is a Mumbai based company in India. It was formerly named Development Credit BANK Limited and was renamed to DCB Bank Limited back in 2013. DCB Bank Limited provides multiple services in the Indian financial and banking products sector. It offers services in various segments in the Wholesale Banking, Treasury Operations, and Retail Banking along with other banking operations. DCB bank limited also offers current and savings account, term deposits, fixed deposits, NRE recurring deposits, and FCNR deposits.
It has spread into the banking sector with multiple services like portfolio investment schemes, smart credit, car, business, gold, and small business. It also offers other services among working capital, farmer, term, microfinance, and construction loans. It also deals with trade finance and receipt funding goods for warehouse. Starting from March 31, 2019, the company was operating through a network consisting of 333 branches along with 504 ATMs in 19 different states as well as three union territories.
In 1981 Ismailia Co-operative Bank merged with Masalwalla Co-operative Bank and the Development Co-operative Bank Limited was formed. Development Co-operative Bank Ltd then went into a merger with Citi Co-operative Bank Ltd and a joint-stock banking company was formed which was later named Development Credit Bank Limited on May 31, 1995.
In the 1990s 11 out of 1400 co-operative banks in India were permitted by RBI to convert to commercial banks and Development Co-operative Bank was one of them. A resolution was [passed on January 28, 1995, in which the shareholders of DCB agreed to register as a limited company under the Companies Act of Section 566. It was certified under the Companies Act and received its license to carry on in the banking sector as per the Banking Regulation Act, Section 22 on May 31, 1995. The Bank, when it registered for being a licensed company, had Rs. 73.34 million capital and the net worth of the Bank was more than Rs. 1000 million.
In 2007, Mr D E Uwadia was appointed as the Additional Director for Development Credit Bank Ltd (DCB). In 2009 Mr Suhail Nathani became the Additional Director of the Bank through a board meeting held on January 29 of the same year. In the following year, the Bank appointed Mr J.K. Vishwanath as the Chief Credit Officer of the Development Credit Bank. ICICI Lombard GIC Ltd. And the DCB Ltd entered into a partnership for Bancassurance.
In 2011, the DCB Ltd opened up its newest branch at Vadodara in Gujrat, India. The exact positions are in the Ground Floor of the Startrek Building on OP Road, opposite of ABS Tower in Vadodara. In the same year, it went on to open its next branch in Gujrat at Mandvi belonging to the Surat District. It also got involved in social event hoisting the Aga Khan Hockey Tournament on May 15, 2011. In the following year, BSE was informed by DCB Ltd about its Capital raising plan along with other updated info about special and QIP issue. In the same year, it opened up two new branches in Madhya Pradesh, one at Itarsi and another at Pipaariya.
In 2013, Mr Jamal Pradhan was appointed as the Additional Director of the Bank. It then went on to pair up with a credit health improvement firm by the name of Credit Sudhaar which would offer services like Payless Card of DCB. On October 24 of the same year, the name of the Bank was changed to DCB Bank Limited. In 2014 the Bank got its Security system certified for ISO 27001:2005 and changed its name to DCB Bank Ltd. In the following year, it launched its mobile wallet service along with a plan for opening up more than 150 branches. In 2016 the Bank launched in Bengaluru its aadhar enabled ATM.
How DCB Bank Ltd is categorised under Financial Sector and Private Banking Industry:
The financial sector is a section that leads the world in terms of equity market capitalization and earnings. The companies that are in the economic enterprise focus mainly on managing money, as their revenue is generated mostly by the sectors from mortgage and loans that gain value as interest rates rise. Also, this industry's economy is made up of institutions and firms that provide financial services to wholesale and retail customers.
The main sectors that are into the Financial industry are,
Accounting and Bookkeeping.
Financial Markets and Planning.
Banking and General Financial Services.
Mortgage and Financial Broking.
Insurance and Superannuation.
Specialised Financial Services.
DCB Bank Ltd comes under the Private Banking industry. The banking industry is one of the active areas in India, which makes a significant portion of the growth of a country’s GDP. The banking industry in India is of great importance in Asia and also throughout the World because of its steady performance in the market.
DCB Bank Ltd Competitors and Sector Peers:
Bank of Rajasthan Ltd.[Merged] - BANOFR
Centurion Bank of Punjab Ltd.[Merged] - CENTUB
City Union Bank Ltd. - CITUNI
Dhanlaxmi Bank Ltd. - DHABAN
Federal Bank Ltd. - FEDBAN
IDFC First Bank Ltd. - IDFCB
IndusInd Bank Ltd. - INDUBA
ING Vysya Bank Ltd.[Merged] - INGVYS
Jammu & Kashmir Bank Ltd. - JAMKA
Karnataka Bank Ltd. - KARBAN
Karur Vysya Bank Ltd. - KARVYS
Kotak Mahindra Bank Ltd. - KOTAMA
Lakshmi Vilas Bank Ltd. - LAKVIL
South Indian Bank Ltd. - SOUINB