Private sector lender Development Credit Bank Limited (DCBL) is set to add 10 more branches to its kitty in this fiscal. The bank has received regulatory approval from Reserve Bank of India in this regard.
With the new branches getting established the bank aims to increase its retail deposits along with gaining better hold in the MSME business.
Amongst the planned count, two branches are expected to be set up recently in Gujarat, one in Surat district and the other in Bharuch district.
With the 10 branches getting added, the branch count of the bank would increase to 92.
Also the presence of the bank would increase from presently at 15 states to 17 states and union territories.
Speaking on the issue, Mr Murali M Natrajan, MD and CEO, said: "The new branches improve our national footprint and helps in continuing to grow retail CASA and MSME and SME business."