Development Credit Bank (DCB) is a private sector bank. It started in the 1930s and was converted into a joint stock banking company, the Development Credit Bank on May 31, 1995. It became a scheduled commercial bank on May 31, 1995 after a banking license was granted to the Aga Khan fund for economic development. DCB offers an extensive range of products across its branches with suitable variants of savings and current accounts and innovative products like the DCB Trio and Easy Business. The bank has presence in business segments like consumer banking with deposits, loans, NRI services, insurance and investment products; commercial banking with deposits, loans, trade finance, cash management services. The commercial banking business of the bank is organized into the business banking group (BBG) and the corporate banking group (CBG). The BBG caters to the SMEs having a turnover of less than Rs 1,000 million, while the CBG caters to corporates with a turnover in excess of Rs 1,000 million and less than Rs 5,000 million. The treasury segment includes: interest rate swaps, currency swaps, g-secs and various other derivative products. The bank also deals in life insurance products of Birla Sunlife and general insurance products of Bajaj Allianz general insurance. It distributes mutual funds across companies. The bank is one of the emerging private sector banks in India having access to over 18,000 ATMs and 75 state-of-the-art branches and extension counters spread over nine states and two union territories. As of 31 March 2007, DCB`s deposit base was Rs 44.15 billion and the advances were over Rs 26.58 billion. The bank recently raised Rs 2.8 billion through preferential allotment of shares. The registered office of the bank is at 301, Trade Plaza, 414, Veer Savarkar Marg, Prabhadevi, Mumbai-400025.
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