DCB Bank has issued and allotted 15,000 Non-Convertible, Redeemable, Unsecured, Basel III Compliant Tier 2 Bonds, for Inclusion in Tier 2 Capital of the Bank in the nature of debentures of the face value of Rs 1 lakh at par aggregating to Rs 150 crore in dematerialized form to the identified investor(s) on Private Placement basis with interest at 9.85% per annum for a period of ten years from November 18, 2016 (the Deemed Date of Allotment).
The Capital Raising Committee (CRC) of Board of Directors of the Bank, by a resolution passed in the meeting held on November 19, 2016 has approved for the same. The Bonds have been rated as ‘A+ (hyb)’ as affirmed by ICRA.
DCB Bank is new generation private sector bank with over 200 branches across 18 states and two union territories. It is a scheduled commercial bank regulated by the Reserve Bank of India. The Bank has reported 31.30 % rise in its net profit at Rs 48.49 crore for the quarter ended September 30, 2016 as compared to Rs 36.93 crore for the same quarter in the previous year.
