DCB Bank reduces MCLR rate

DCB Bank on Saturday (3 July) announced a downward revision of marginal cost of funds based lending rate (MCLR) by 4 basis points across different tenors.

The private sector bank revised the overnight MCLR from 8.12% to 8.08%, one month MCLR from 8.12% to 8.08%, three months MCLR from 8.8% to 8.78%, six months MCLR from 9.27% to 9.23% and one year MCLR from 9.37% to 9.33%. The revised rates will be effective from 5 July 2021.

DCB Bank is a new generation private sector bank with 352 branches across 19 states and 3 union territories. It is a scheduled commercial bank regulated by the Reserve Bank of India. The bank's standalone net profit jumped 13.3% to Rs 77.91 crore on 4% decrease in total income to Rs 971.16 crore in Q4 FY21 over Q4 FY20.

 

Shares of DCB Bank closed 0.83% higher at Rs 103.50 on Friday.

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