DCB increases the base rate

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Mumbai, May 09: Development Credit Bank revised its base rate to 9.50% p.a. from the earlier base rate of 9.00% p.a. and BPLR (Benchmark Prime Lending Rate) to 16.75% p.a. from 16.25% p.a. The revised rates are under effect since May 07, 2011.

Development Credit Bank (DCB"s) is in various business segments of the banking sector which includes retail, micro-SMEs, large SMEs, mid-Corporates, agriculture, commodities, government, public sector, Indian banks, co-operative banks and non banking finance companies (NBFC).

DCB reported annual net profit of Rs 21.43 crore for FY 2011. Deposits in FY 2011 grew by 17% to Rs 5,610 crore, while Advances grew by 24% to Rs 4,271 crore during the fiscal.

The Balance Sheet size was at Rs 7,372 crore, registering 20% growth according to the company.

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