DCB Bank inaugurates new branch in Mandvi, Surat

Company Brief

Mandvi, June 22, 2010

DCB Bank (Development Credit Bank Ltd) inaugurated its newest branch in Gujarat at Mandvi, Surat District today.

DCB Bank has a strong retail focus in Gujarat, already serving customers across 14 cities. Historically too, the Bank has roots in Gujarat having established some of its earliest branches in there. The Bank has witnessed deposit and customer growth as a result of the growing prosperity and economic success of Gujarat. Currently, DCB Bank operations span branches across Ahmedabad, Gandhinagar, Ankelshwar, Bhuj, Daman, Dediapada, Rajkot, Sidhpur, Silvassa, Surat, Vadodara and Vapi.

Going forward, DCB Bank aims to grow the retail banking customer base with a wide range of banking and financial products and services, and also reach out to micro-SMS and SMEs.

Mr. Murali M. Natrajan, Managing Director & CEO, DCB Bank, said, “As a part of DCB’s growth plan we had sought permission for this branch from the Reserve Bank of India. We are extremely happy to launch our rural branch at Mandvi to reach out to new customers with retail, agri and inclusive banking products. Since October 2007, DCB already has a successful rural branch in Dediapada in Narmada district in Gujarat.

DCB Bank’s range of products include:

• Agri & Inclusive Banking: DCB Bank’s rural banking initiative, serves close to 1,100 village institutions, and approximately 6 village clusters comprising Mandvi, Satbara, Netrang, Nasvadi, Dediapada and Umar Pada in Gujarat. The programme aims at providing financial inclusion to roughly 1.50 lakh households through innovative loan and deposit products. The Dediapada branch, in particular, focuses on micro-deposits and savings accounts for low-income groups who had no access to banking previously.

• Micro SME & large SME Lending: DCB Bank offers tailor-made financial products for the SME sector and has well-established business relationships in major industrial clusters in Ahmedabad, Surat, Rajkot, Ankleshwar and Bhuj amongst others.

For further information, please contact:

DCB Bank

Gaurav Mehta

Mobile: +919870432101

Email: gauravm@dcbl.com