US fine on Habib Bank not to impact India biz, says DCB Bank; stock dips 6%

Shares of DCB bank fell as much as 6% to Rs 178 in intra-day in an other-wise volatile market on reports that the lender is under RBI scanner after US fined Pakistan's Habib Bank. Habib Bank's promoter, AKFED Group, holds 15% stake in DCB Bank.

DCB Bank, however, clarified on BSE that the news will have no impact on their business in India.

"DCB Bank is promoted by AKFED Group, who as of June 30, 2017 holds 15.02% of DCB. As an international development agency dedicated to promoting entrepreneurship and building economically sound enterprises in the developing world, the Aga Khan Fund for Economic Development (AKFED) often works in parts of the world that lack sufficient foreign direct investment," the company said in a regulatory filing on BSE.

"As on June 30, the bank has 290 branches across the country and balance sheet of Ts 24,345 crores. The bank's capital adequacy ration was 15.25% wit hnet NPA below 1%," the filing added. CLICK HERE FOR FULL RELEASE

The stock opened at Rs 189 and had a high and low of Rs 189 and Rs 178, repectively.