dblogonew02.gif (3810 bytes) Need to check out original corporate information? Visit www.prdomain.com  
a division of The Information Company Private Limited
information is money
home | advertise | partnership | site map
  finance > banks > Development Credit Bank

DCB to raise capital by Rs 200 crore; no plans for IPO now
Our Banking Bureau
14 August 2003

Development Credit Bank (DCB) is planning to hike its capital by Rs 200 crore this year.

"We are in talks with various investment banks, exploring ways to raise the capital. The plan is to raise Rs 125 crore through the tier-I capital and the rest through tier-II," says DCB managing director and chief executive H V Sheshadri.

domain-B's currency converter - check it outAbout 40 per cent of the capital raised will be utilised to clean up its assets book through a write-off, while 60 per cent will be utilised towards building branches and ATMs. The bank plans to increase its branches from 63 to 76 and ATMs from 48 to 100 by the yearend.

The bank has no immediate plan for an initial public offering. "We have to wait for two-three years before floating an IPO," says John Harris, the financial services head of Aga Khan Fund for Economic Development, which holds a 49-per cent equity stake in the bank.

send this article to a friendThe Paris-based foundation has investments in several developing and underdeveloped countries in financial and industrial sectors. It also runs many welfare programmes in Africa and South Asia to meet the educational and health requirements of people.

List of reports on Development Credit Bank

List of general reports on banks

Web www.domain-b.com


This site is best viewed with an 800 x 600 monitor resolution    |    Copyright 1999-2003 The Information Company Private Limited. All rights reserved.

DCB to raise capital by Rs 200 crore; no plans for IPO now