With an advances book of Rs 37,00 crore as on September’23, DCB bank is a mid-sized SME focussed bank. DCB has established a market position in the small and medium enterprise (SME) segment, which, along with the mortgages (44%) segment, constituted over 50% of the loan book as on September 30,2023. The stock rallied 30% after the announcement that the Aga Khan Fund for Economic Development (AKFED), promoter of the bank, is planning to infuse equity capital into the bank. The AKFED expressed interest to infuse Rs 83 crore in DCB Bank at 137 per share on a preferential basis. The funds infusion by the promoter will strengthen the bank’s capital position and support future growth. Moreover, Bank’s business growth and profitability has improved and valuation is still attractive.
first published: Jan 5, 2024 12:07 pm
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