DCB Bank eyes major expansion in Chhattisgarh

The bank opens two branches to start with

DCB Bank (Development Credit Bank Ltd) had forayed into Chhattisgarh with the opening of its branches in Berla and Bemetara targeting to provide an array of agri-business bank products.

“By March 2014, the DCB Bank would have six branches in Chhattisgarh that would be further expanded to 15 in next two years,” Managing Director and Chief Executive Officer of DCB Bank Murali M Natrajan said. The 250 branches across the country would be enhanced to 275 in next two to two-and-a-half years, he added.

Natrajan said Chhattisgarh was a progressive state and the DCB Bank would share its support in the prosperity and growth of the state. The Bank had a few corporate clients in the state that provided vital inputs to plan the foray into the state, he said, adding that the location and business plan for the expansion had been finalised.

The Bank had however started its operation from the rural pocket and would enter into the urban area later. “DCB target areas are those that are currently not covered by any other bank,” he said. A majority of farmers in Berla and Bemetara still practice the traditional methods of cultivation due to lack of knowledge and inadequate funding, Natrajan explained.

The Bank would establish a strong retail and agri business banking model with particular focus on modern farming to enhance farm productivity and increase income from agriculture and agri-business.

The DCB Bank that is having 112 branches in 62 locations across 16 states and two union territories is planning major expansion. The bank plans to double its balance sheet from Rs 10,000 crore in next two to three years besides adding 300 to 500 employees every year.