Development Credit Bank (DCB)’s board of directors have approved to raise an amount not exceeding Rs 300 crore, which includes an amount of Rs 150 crore, through issue of further shares including under QIP.
The Bank’s shareholders at fifteenth AGM held on June 01, 2010 authorized the bank to raise Rs 150 crore which could not be raised till yet. However, the bank due to unfavorable market conditions for capital raising last year could not raise the money as planned. However, the bank taking into consideration the improving market condition has now planned to raise capital by Q2 this fiscal (2012).
The bank has reported growth of 27.76% in its total income for the quarter ended March 31, 2011 at Rs 177.48 crore as compared to Rs 138.92 crore for the quarter ended March 31, 2010. The bank has registered net profit after extra ordinary items at Rs 11.35 crore as compared to loss of Rs 8.16 crore for the similar quarter last year.
The Bank’s shareholders at fifteenth AGM held on June 01, 2010 authorized the bank to raise Rs 150 crore which could not be raised till yet. However, the bank due to unfavorable market conditions for capital raising last year could not raise the money as planned. However, the bank taking into consideration the improving market condition has now planned to raise capital by Q2 this fiscal (2012).
The bank has reported growth of 27.76% in its total income for the quarter ended March 31, 2011 at Rs 177.48 crore as compared to Rs 138.92 crore for the quarter ended March 31, 2010. The bank has registered net profit after extra ordinary items at Rs 11.35 crore as compared to loss of Rs 8.16 crore for the similar quarter last year.
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