The private lender announced an upward revision in marginal cost of funds based lending rate (MCLR) by 4 basis points across different tenors, effective from 5 July 2022.
The overnight MCLR increased from 8.51% to 8.55%, MCLR for one month rose from 8.51% to 8.55%. The interest rate on the three month MCLR was raised from 9.21% to 9.25%, followed by the six month MCLR rate increased from 9.41% to 9.45%. The one year MCLR rate was raised from 9.46% to 9.50%. The revised rates will be effective from 5 July 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 rose 0.60% to Rs 75.70 on the BSE.
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