DCB Bank after the market hours on Friday announced an upward revision of marginal cost of funds based lending rate (MCLR) by 23 basis points across different tenors.
The private sector bank revised the overnight MCLR from 8.28% to 8.51%, one month MCLR from 8.28% to 8.51%, three months MCLR from 8.98% to 9.21%, six months MCLR from 9.18% to 9.41% and one year MCLR from 9.23% to 9.46%. The revised rates will be effective from 6 June 2022.
DCB Bank is a private sector bank with 400 branches across India. It is a scheduled commercial bank regulated by the Reserve Bank of India. The bank's standalone net profit jumped 45.6% to Rs 113.44 crore on 7% increase in total income to Rs 1,034.71 crore in Q4 FY22 over Q4 FY21.
Shares of DCB Bank fell 2.95% to close at Rs 85.50 on Friday, 3 June 2022.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve hit your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Quarterly Starter
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories Online
Over 30 behind the paywall stories daily, handpicked by our editors for subscribers
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app